Shares of the Shanghai-based electric vehicle manufacturer Nio saw a significant increase of over 10%, reaching $5.00 in early trading on Tuesday, the highest price point since March. This surge has extended the stock’s impressive one-month performance to over 41%, with the company’s market capitalization now exceeding $11 billion. Year-to-date, Nio’s stock has risen approximately 13%.
In parallel, Nio’s shares on the Hong Kong Stock Exchange also experienced a rise of 4.45%, contributing to a one-month gain of 35.01%. The recent stock rally coincides with a schedule of important product launches for the company. Nio is set to launch the L90, the second vehicle from its mass-market brand Onvo, on July 31. Additionally, a five-seat version of the SUV, tentatively named L80, is expected to debut later in the year, with a refresh of its flagship ES8 SUV slated for late September.
Nio’s budget brand, Firefly, is preparing to increase production following adjustments to its manufacturing lines. The brand’s head of marketing, Pu Yang, announced a push for “full throttle” production, aiming for record production levels next month. Firefly has seen a steady rise in deliveries over recent months, moving from 231 units in April to 3,932 in June.
Data from the week ending July 20 revealed a 19.5% increase in combined domestic insurance registrations for Nio, Onvo, and Firefly, totaling 4,900 units. Specifically, registrations for the Nio brand increased by 3.7%, hitting 2,500 units in the third week of July.
To boost sales, Nio is implementing aggressive price reductions on the ET7 sedan and EC7 coupe SUV, offering discounts of up to 190,000 yuan (around $26,480). The entry prices for these models have dropped to 230,000 yuan for the ET7 and 260,000 yuan for the EC7.
On an international note, Nio announced the delivery of a first batch of EC6 vehicles to the UAE-based Safe Line Group, which is transitioning its fleet to electric vehicles. Nio began its Middle Eastern operations in late 2024, collaborating with Abu Dhabi’s CYVN Holdings, the company’s largest investor.
Nio’s strategic moves and new product launches indicate a proactive stance in the competitive electric vehicle market, showcasing its commitment to growth and adaptation in a rapidly evolving industry.