降价换量难填亏空,蔚来盈利攻坚遇阻,李斌只剩最后窗口期

梅花资本洞察
Nov 23, 2025

当小米汽车率先叩开盈利大门,以25.5%的毛利率交出亮眼答卷时,蔚来汽车创始人李斌仍在多个场合重申“活下去是首要目标”。一边是竞品盈利破局的行业参照,一边是自身千亿累计亏损、短期偿债压力陡增的现实困境,叠加老车主维权、资本市场看空等多重风波,蔚来的四季度盈利攻坚之路布满荆棘,李斌正面临比2019年至暗时刻更复杂的生存考题。素来以争议言论出圈的李斌,早已习惯站在舆论风口。从“电池尺寸关联马路损耗”的...

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