NEW YORK, May 26, 2026, 06:03 EDT
- NIO’s U.S.-listed ADR ended the last session at $5.20, dropping 7.1% in regular trading.
- U.S. markets get back to trading Tuesday after closing for Memorial Day. NIO will launch its ES9 in China on Wednesday.
- The company is counting on new SUVs, battery-rental pricing, and better margins as it tries to hit its second-quarter delivery goal.
Nio Inc’s U.S.-listed shares are looking shaky before Tuesday’s reopening after the long weekend. The ADR, which represents the company’s foreign shares in the U.S., last traded at $5.20. The stock slid 7.1% on Friday, while most of the U.S. market gained.
Timing is in focus. With the New York Stock Exchange shut on Monday for Memorial Day, U.S. traders only had Tuesday to respond to fresh China-market updates on NIO’s product cycle.
NIO’s ES9, a new flagship electric SUV, faces its first big test. CnEVPost said the company will bring ES9 safety tests to China Central Television on Tuesday night in Beijing. That’s set for the day before the official launch, which is still on for May 27.
NIO says it will launch the ES9 and start deliveries on May 27. Pre-sales for the model started in April at 528,000 yuan, or about $77,800, with the price including the battery pack, CnEVPost reported.
ES9 is the latest push from NIO as management bets on new launches to pull up second-quarter volumes. The company moved 83,465 vehicles in the first quarter, nearly doubling from a year ago, but the number is down from the fourth quarter.
William Bin Li, who leads NIO as founder, chairman and CEO, said the automaker is in an “intensive new product launch and delivery cycle.” NIO guided for second-quarter deliveries between 110,000 and 115,000 units, a rise of 52.7% to 59.6% over the same period last year. NIO Inc.
NIO’s margins improved in the first quarter. The company posted revenue of RMB25.53 billion, up 112.2% year-on-year. Gross margin climbed to 19.0% from 7.6%. Non-GAAP operating profit, which excludes items like share-based pay, came in at RMB66.8 million. That flipped from a big adjusted operating loss a year ago.
NIO CFO Stanley Yu Qu said the company’s vehicle margin was 18.8%, with cash reserves still growing. Bulls are pointing to higher volume, tighter costs, and better pricing mix as reasons to buy.
Analyst views are still split. TipRanks data showed Morgan Stanley’s Tim Hsiao kept a Buy call on NIO’s Hong Kong shares, keeping a HK$58 target price as of May 22. He pointed to a focus on profitability and strength in ES8 and ES9. Jefferies’ Xiaoyi Lei stuck with Hold three days later.
NIO’s discount Onvo line is in focus for traders this week. CnEVPost said over 90% of first Onvo L80 buyers picked BaaS, the battery rental plan that moves the battery out of the sticker price. The L80 lists at 242,800 yuan with battery, or 156,800 yuan on BaaS plus a monthly fee.
Deutsche Bank analysts led by Bin Wang see the L80 ramping up to around 10,000 sales a month at first, then dropping closer to 4,000 as more rivals show up, CnEVPost reported. The market’s mixed take lines up with that: the stock’s been hesitant, with strong initial demand but questions on how long that lasts.
NIO is scaling back on overseas plans and turning focus back to China, facing pressure as rivals Xpeng and Leapmotor keep up stronger export growth. CnEVPost reported NIO shipped just 44 cars abroad last month, while Xpeng sent 6,006 and Leapmotor 14,225.
NIO’s story remains messy. The company booked a first-quarter net loss of RMB332.1 million, and management says its guidance hinges on market trends that might shift. Margin gains could fall short if ES9 orders don’t convert, Onvo interest drops after launch, or China’s EV price war brings more discounting.
