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Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Compensation

Schedule of compensation expenses recognized for share based awards granted

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​		2020		2021		2022
Cost of sales		5,564	​	34,009	​	66,914
Research and development expenses		51,024	​	406,940	​	1,323,370
Selling, general and administrative expenses		130,506	​	569,191	​	905,612
Total		187,094	​	1,010,140	​	2,295,896

​

Schedule of stock option activity

​

​	​	​	​	​	​	​	​	​
​		​		Weighted		Weighted		​
​	​	Number of	​	Average	​	Average	​	Aggregate
​	​	Options	​	Exercise	​	Remaining	​	Intrinsic
​		Outstanding		Price		Contractual Life		Value
​	​	​	​	US$	​	In Years	​	US$
Outstanding as of December 31, 2019		88,843,972	​	2.38	​	6.77	​	164,363
Granted		16,077,700	​	8.09	​	—	​	—
Exercised	​	(15,253,500)	​	1.55	​	—	​	—
Cancelled		(9,030,781)	​	3.02	​	—	​	—
Expired		(1,318,892)	​	4.49	​	—	​	—
Outstanding as of December 31, 2020		79,318,499	​	3.59	​	6.39	​	3,581,119
Granted		2,468,150	​	13.89	​	—	​	—
Exercised		(9,119,048)	​	2.31	​	—	​	—
Cancelled		(2,143,711)	​	12.59	​	—	​	—
Expired		(25,940)	​	19.03	​	—	​	—
Outstanding as of December 31, 2021		70,497,950	​	4.76	​	5.44	​	1,944,597
Granted		1,685,000	​	3.03	​	—	​	—
Exercised		(4,533,690)	​	2.58	​	—	​	—
Cancelled		(1,197,777)	​	10.76	​	—	​	—
Expired		(467,608)	​	12.03	​	—	​	—
Outstanding as of December 31, 2022		65,983,875	​	3.57	​	4.51	​	465,353
Vested and expected to vest as of December 31,2022		65,832,596	​	3.56	​	4.51	​	464,324
Exercisable as of December 31, 2022		55,898,588	​	3.22	​	4.49	​	396,734

​

Schedule of share options to employees

​

​	​	​	​	​	​	​	​	​
​	​	​	​	Weighted	​	Weighted	​	​
​	​	Number of	​	Average	​	Average	​	Aggregate
​	​	Options	​	Exercise	​	Remaining	​	Intrinsic
​	​	Outstanding	​	Price	​	Contractual Life	​	Value
​		​		US$		In Years		US$
Outstanding as of December 31, 2020		—		—		—		—
Granted		31,931,249		0.00001		—		—
Outstanding as of December 31, 2021		31,931,249		0.00001		9.84		35,888
Vested	​	(1,387,401)	​	0.00001	​	—	​	—
Outstanding as of December 31, 2022	​	30,543,848	​	0.00001	​	8.84	​	34,337

​

NIO Incentive Plans

Share-based Compensation

Schedule of weighted average assumptions used

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,														​
​		2020					2021					2022
Exercise price (US$)		2.38	​	-	48.45	​	2.39	​	-	42.20		2.39	​	-	19.91	​
Fair value of the ordinary shares on the date of option grant (US$)		2.38	​	-	48.45	​	39.54	​	-	42.20		10.34	​	-	19.61	​
Risk-free interest rate		0.50	%	-	1.00	%	1.08	%	-	1.47	%	2.50	%	-	2.56	%
Exercise multiple	​	​	​	​	2.5	x	​	​	​	2.5	x	​	​	​	2.5	x
Expected dividend yield		​	​	​	0	%	​	​	​	0	%	​	​	​	0	%
Expected volatility		54	%	-	55	%	​	​	​	55	%	​	​	​	56	%
Expected forfeiture rate (post-vesting)		2	%	-	6	%	​	​	​	2	%	​	​	​	1.5	%

​

AA Plan

Share-based Compensation

Schedule of weighted average assumptions used

​

​	​	​	​
​		For the Year Ended
​	​	December 31,
​	​	2021 and 2022
Fair value of the ordinary shares on the date of option grant (US$)		1.00-1.01	​
Risk-free interest rate		1.58	%
Expected term (in years)		10	​
Expected dividend yield		0	%
Expected volatility		52	%
Expected forfeiture rate (post-vesting)		2	%

​

US employees under 2016 plan | NIO Incentive Plans

Share-based Compensation

Schedule of restricted shares activity

​

​	​	​	​	​
​	​	Number of Restricted	​	Weighted Average
​		Shares Outstanding		Grant Date Fair Value
​	​	​	​	US$
Unvested at December 31, 2019 and December 31, 2020		—	​	—
Grant	​	1,179,976	​	41.87
Vested		(1,728)	​	41.53
Forfeited		(40,052)	​	40.09
Unvested at December 31, 2021		1,138,196	​	41.93
Grant	​	2,353,714	​	16.00
Vested		(291,069)	​	36.44
Forfeited		(232,483)	​	29.70
Unvested at December 31, 2022		2,968,358	​	23.87

​

Non-US employees under 2016, 2017 and 2018 plan | NIO Incentive Plans

Share-based Compensation

Schedule of restricted shares activity

​

​	​	​	​	​
​	​	Number of Restricted	​	Weighted Average
​		Shares Outstanding		Grant Date Fair Value
​	​	​	​	US$
Unvested at December 31, 2020		1,735,744	​	40.05
Granted	​	22,551,227	​	36.55
Vested	​	(841,014)	​	39.81
Forfeited	​	(546,016)	​	36.22
Unvested at December 31, 2021	​	22,899,941	​	33.02
Granted	​	31,944,551	​	15.12
Vested	​	(4,687,528)	​	34.49
Forfeited	​	(3,172,211)	​	28.42
Unvested at December 31, 2022	​	46,984,753	​	22.88

​

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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