Summary: On Thursday, November 13, 2025, NIO’s news flow is led by a confirmed delay to the Onvo L80 launch into the first half of 2026, operational changes to its European battery‑swap network (including a Denmark station closure), and fresh institutional positioning in 13F filings. The ADR last closed at $6.45 on Wednesday and is modestly higher in U.S. premarket trading. An earnings date is set for November 25.
Price action: Where NIO stands this morning
- Last close (Nov 12): NIO ADRs fell 2.71% to $6.45, marking a fifth straight down day. [1]
- Premarket (Nov 13, ~5:12 a.m. ET):~$6.54, up about 1.4% vs. the prior close. (Premarket figures are indicative and can change rapidly.) [2]
Today’s top headlines (Nov 13, 2025)
1) Onvo L80 launch pushed to H1 2026 to prioritize L90 output
NIO founder and CEO William Li said Onvo’s L80 five‑seat SUV—originally slated for a Q4 2025 launch—will now arrive in the first half of 2026, citing tight capacity and the need to keep up with the L90’s strong demand. CnEVPost reports the L90 has exceeded 10,000 deliveries for three consecutive months, straining battery supply. [3]
Why it matters for the stock: The delay concentrates near‑term mix on the higher‑volume L90 while removing a 2025 model launch catalyst. Investors will look for margin and production color on the upcoming earnings call.
2) Denmark battery‑swap station closed ahead of market relaunch
NIO has closed its only Danish power‑swap station (Slagelse) as it prepares a relaunch in Denmark via a distributor model and without the battery rental service there, according to regional press. The closure is described as the first European swap‑station shutdown since NIO entered the region in 2021. [4]
Why it matters: The move underscores NIO’s selective reset in Europe—focusing investment where utilization is strongest—while it evolves the go‑to‑market model outside China.
Context: Earlier in the week, reporting highlighted NIO’s swap stations in Sweden gaining approval to participate in grid frequency regulation—providing a small, recurring revenue stream per site. [5]
3) Institutional flows: New stake disclosed; one big holder trims
- New position: WT Asset Management disclosed a new ~$142 million NIO position in its Q3 2025 13F, elevating the fund among notable institutional holders. (13Fs show positions as of Sept. 30 and aren’t real‑time.) [6]
- Trim elsewhere:BlackRock cut its NIO stake by ~42.7% in Q3 versus Q2, per 13F data compiled by Fintel. Again, 13F snapshots are historical and don’t capture post‑quarter changes. [7]
Why it matters: Mixed signals—one new high‑conviction buy against a sizeable trim by the world’s largest asset manager—can amplify short‑term volatility around catalysts and headlines.
4) Earnings date set: Nov 25, 2025
NIO confirmed it will report Q3 2025 results before U.S. market open on Tuesday, Nov 25, followed by a management call at 7:00 a.m. ET (8:00 p.m. Beijing/HK). [8]
What to watch on the call:
- Production cadence and margin trajectory with L90 mix;
- Updated timetable for Onvo L80 and any 2026 model pipeline hints;
- Battery‑swap footprint/ROI inside and outside China and progress toward next‑gen stations;
- International strategy—where NIO sticks with premium direct sales vs. distributor models in Europe.
What this means for investors today
- Narrative tilt: The L80 deferral concentrates near‑term execution on a clearly selling product (L90), which can help utilization and operational focus—but at the expense of a late‑2025 new‑model catalyst. [9]
- Europe pragmatism: Closing a low‑utilization Denmark site while leaning into a distributor relaunch suggests a pragmatic capital allocation approach outside China. Look for efficiency metrics and station‑level economics on Nov 25. [10]
- Positioning risk: 13F season brings headline risk—both supportive (new buys) and cautionary (large trims). Such filings often influence sentiment even though they are backward‑looking. [11]
- Tape setup: With ADRs hovering near the mid‑$6s in premarket, intraday action will likely key off any fresh headlines on product timing, deliveries, or additional 13F disclosures due by mid‑November deadlines. [12]
Quick FAQ
Why was Onvo L80 delayed?
Management cited constrained capacity and the need to prioritize the popular L90; many L80 components overlap with L90, so launching L80 now would cannibalize L90 output. New target: H1 2026. [13]
What’s happening in Europe?
NIO closed its Denmark swap station ahead of a distributor‑led relaunch, while Swedish stations have begun participating in grid services—small but potentially recurring revenue. [14]
When are earnings?
Tuesday, Nov 25, 2025 before the U.S. open; call at 7:00 a.m. ET. [15]
Editorial disclosure
This article covers events and market data for Thursday, November 13, 2025. Premarket quotes are indicative and may change. Institutional holdings cited are from Form 13F filings reflecting positions as of Sept. 30, 2025, which may not represent current holdings. Nothing here is investment advice. Consider your objectives and risk tolerance before investing.
References
1. www.marketwatch.com, 2. www.marketwatch.com, 3. cnevpost.com, 4. scandasia.com, 5. cnevpost.com, 6. last10k.com, 7. fintel.io, 8. ir.nio.com, 9. cnevpost.com, 10. scandasia.com, 11. last10k.com, 12. www.marketwatch.com, 13. cnevpost.com, 14. scandasia.com, 15. ir.nio.com
