NIO

Passes 1 million cumulative vehicle deliveries in January 2026 and completes its 100 millionth battery swap in February 2026, with 3,790 Power Swap Stations deployed worldwide.

NIO delivered 83,465 vehicles in Q1 2026 (+98% YoY), with NIO brand contributing 58,543, ONVO 13,339, and FIREFLY 11,583. Revenue reached RMB25.5B (+112% YoY), with record 19.0% gross margin and 18.8% vehicle margin — both four-year highs. Operating profit turned positive at RMB66.8M (second consecutive quarter), GAAP net loss narrowed 95% YoY to RMB332M, and non-GAAP net profit reached RMB43.5M. The battery swap network grew to 3,916 stations globally, and Q2 2026 guidance called for 111,000-115,000 deliveries (revenue RMB32.78B-RMB34.44B).

NIO formally launches the ES9 — a 5.36-meter executive SUV on its new 900V architecture with 5C ultra-fast charging and 3-minute battery swap — at a May 27 event with Yao Ming as Chief Experience Officer. Pricing starts at RMB 498,000 (~$69,000) or RMB 390,000 (~$54,000) under Battery-as-a-Service, undercutting pre-sale levels by RMB 30,000. Nationwide deliveries begin May 28.

ONVO builds out a full SUV lineup in 2026: the refreshed L90 (launched April 21, deliveries May 9), the new mid-size L80 (launched May 15), and the second-generation L60 (launched June 11 from RMB 192,800, deliveries June 12) — all gaining LiDAR variants and NIO's in-house NX9031 chip. ONVO topped 10,000 monthly deliveries in May (+92% YoY). The firefly small-EV brand crossed its 60,000th cumulative delivery on May 23, 2026.

The U.S. Department of Defense's updated Section 1260H list published June 8, 2026 names NIO alongside BYD and 186 other companies as supporting China's military-civil fusion strategy. The FY2024 NDAA prohibits direct DoD contracting with listed entities from June 30, 2026, with bans on indirect procurement following a year later; NIO called the designation factually incorrect and pledged to challenge it through all available legal channels.

NIO's third-generation ES8 flagship SUV crossed 120,000 cumulative deliveries on June 22, 2026 — just 275 days after its late-September 2025 launch — after delivering 11,475 units in May (its seventh straight month above 10,000) and leading China's large-SUV segment. NIO opens pre-orders for a new five-seat ES8 variant on June 28, with launch and deliveries in early July, broadening the flagship lineup beyond the six- and seven-seat models into the larger five-seat SUV segment.

ONVO announced on June 26, 2026 that its L60 electric SUV crossed 100,000 cumulative deliveries since customer handovers began on September 28, 2024, ranking among the top three best-selling all-electric mid-size SUVs in China's ~RMB200,000 class. The L60 — ONVO's first model and a direct Tesla Model Y rival — anchors NIO's push to scale volume through its lower-priced sub-brands.

NIO delivered the 10,000th ES9 on June 26, 2026 — roughly one month after deliveries began on May 28 — with about 6,892 ES9 delivered in June alone (after 3,108 in May), prompting Deutsche Bank to lift its full-year ES9 forecast to 56,000 units. The same week, NIO Power signed a strategic agreement with Anhui's Zhongan Energy (June 26) to jointly build 500 battery swap stations in China within a year, and firefly began real-world beta testing at fifth-generation swap stations across six cities (Shanghai, Beijing, Hefei, Guangzhou, Chengdu, Kunshan) on June 25 — a key step toward unifying NIO, ONVO, and firefly on one swap network ahead of mass Gen-5 deployment in Q3 2026.

NIO delivered 40,597 vehicles in June 2026 (+62.9% YoY) — 21,908 NIO brand, 11,743 ONVO and 6,946 FIREFLY — capping a record second quarter of 107,658 deliveries (+49.4% YoY) and near the top of guidance. Cumulative deliveries reached 1,188,715 as of June 30, 2026, with the ONVO and FIREFLY sub-brands together accounting for nearly half of June volume.

NIO launched a five-seat, two-row version of its third-generation ES8 flagship SUV on July 9, 2026, with deliveries starting July 10. Priced at RMB382,800 (~$57,420) for the Executive Premium and RMB422,800 (~$63,420) for the Executive Signature — or RMB274,800 / RMB314,800 under Battery-as-a-Service — it shares the three-row ES8's 900V platform, dual-motor drive, and 102 kWh long-range pack, offering up to 655 km CLTC range and a 1,334 L rear boot (3,084 L total) that NIO calls the largest in the premium five-seat SUV class. NIO says early orders skew toward buyers trading in luxury sedans, broadening the flagship beyond its six- and seven-seat configurations.

On July 13, 2026 Goldman Sachs upgraded NIO to Buy from Neutral and raised its U.S. price target to $7 from $6.60 (HK$55 for the Hong Kong shares), implying roughly 42% upside. Goldman cited NIO's 'consistent capability to launch more competitive models' and forecast about 43% volume growth by the end of 2026 versus ~1% for the broader Chinese market, a swing to positive free cash flow of RMB12.1B (from a RMB3.1B outflow), and a non-GAAP net profit of about RMB1.6B (from a RMB12.4B loss in 2025). NIO's U.S.-listed shares rose on the call, extending a rebound built on record Q2 2026 deliveries.

NIO's firefly small-EV brand crossed 70,000 cumulative deliveries on July 16, 2026, less than two months after passing 60,000, as the sub-brand scaled monthly volume (6,946 delivered in June) and kept expanding internationally across Singapore, the Netherlands, Norway, and Belgium. firefly is also the pilot brand for NIO's fifth-generation multi-brand battery-swap stations, whose large-scale deployment is set for the third quarter of 2026.

ONVO announced on July 19, 2026 that its L90 full-size electric SUV crossed 60,000 cumulative deliveries in under a year since its August 2025 launch, ranking as one of China's best-selling large all-electric SUVs in the ~RMB300,000 segment. The milestone — alongside the L60 passing 100,000 in June — underscores how NIO's mid-market ONVO sub-brand has become a major volume driver, with ONVO and firefly together accounting for roughly half of NIO group deliveries. Earlier in the month, NIO also passed 150,000 cumulative deliveries in its home city of Shanghai (July 8).

Starts deliveries of the ET9 executive flagship in late March 2025, positioning it as the showcase for NIO's full-stack technology platform.

Officially launches the firefly small EV on April 19, 2025 and starts customer deliveries later that month, giving NIO a third brand below NIO and ONVO.

Starts ONVO L60 deliveries and closes 2024 with a record 221,970 annual vehicle deliveries. At NIO Day 2024, NIO officially launches the ET9 executive flagship and unveils the firefly small EV brand.

Abu Dhabi-linked CYVN Holdings invests a total of ~$2.9B across two rounds, becoming a major strategic investor and positioning NIO for Middle East expansion.

Begins deliveries of the ET7 flagship sedan and ET5 mid-size sedan, expanding from SUVs into the sedan market. Lists on the Hong Kong and Singapore stock exchanges.

After nearly running out of cash, receives a strategic RMB 7 billion (~$1B) investment from the Hefei city government, saving the company from bankruptcy and establishing its manufacturing base in Hefei.

Goes public on the New York Stock Exchange, raising approximately $1 billion. One of the first Chinese EV companies to list in the US.

Launches the ES8, a full-size 7-seat electric SUV and NIO's first mass-production vehicle, featuring a swappable battery pack.

Unveils the NIO EP9 electric supercar, which sets the lap record at the Nürburgring for an electric vehicle, demonstrating NIO's engineering capabilities.

William Li founds NIO with backing from Tencent, Hillhouse Capital, and others, with the vision of building premium electric vehicles with a service-first approach.