Wall Street is warming up to Chinese EV maker Nio (NIO), thanks to rising car sales and hype over its new flagship SUV.
On Friday, Nio announced it delivered 21,017 vehicles in July, bringing its 2025 total to 135,167, up 25% from a year ago. As of July 31, Nio’s lifetime deliveries have reached 806,731 vehicles.
The company officially launched its ONVO L90 SUV on July 31, with customer deliveries expected to start shortly after. While exact numbers aren’t out yet, early signs point to strong demand.
“It’s the first weekend after the ONVO L90 launch, and the crowds haven’t let up at all,” wrote local industry outlet ChinaEV Home, adding that showroom traffic is “just as busy as during the pre-sale.”
It's the first weekend after the ONVO L90 launch, and the crowds haven't let up at all — just as busy as during the pre-sale.👍 $NIO #ONVO #ChinaEV pic.twitter.com/6zu9adMpBW
undefined ChinaEV Home (@CNEVhome) August 2, 2025
The ONVO L90 is a big play for Nio to grab more market share in the SUV space. Priced at RMB 265,900 (about $37,000), it’s aimed at a broader audience than the company’s premium lineup.
With Nio’s battery-as-a-service leasing option, buyers can bring that starting price down to around $25,000.
While Nio is still a smaller player in China’s crowded EV market, the automaker’s groth shows promise. Between July 14 and 20, the company recorded 4,872 vehicle registrations, nearly 19% more than the week before.
The following week, registrations climbed again to 5,000 units.
NIO stock rebounds
This year has been a roller coaster for NIO stock.
But over the past month, the stock has jumped 44%, reversing two months of declines and boosting its market cap to nearly $10.5 billion. Year-to-date, the stock is now up 10% and has gained 23% over the past year.
Institutional investors have also been quietly adding to their positions. As InvestorsObserver reported, at least 155 institutions have increased their stakes this year, including Bank of America and UBS Asset Management.
Analysts at Morgan Stanley remain optimistic, pointing to strong expected demand for the ONVO L90.
They highlight the SUV’s design, affordability, and features as potential growth drivers. Morgan Stanley set a price target of nearly $6 for NIO, suggesting about 20% upside from current levels.
Nio is expected to release its next set of financial results in early September.
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