NIO Shares React After ES9 Launch, China EV Sector Still in Play
NIO’s U.S.-listed ADRs rose 1.6% to $5.64 Friday after the company launched its ES9 flagship SUV in China and began deliveries. First-quarter deliveries jumped 98% year-over-year, but slipped from Q4. Vehicle margin reached 18.8%. CEO William Li warned China’s auto market has exited its “golden era.”