TLDR
- NIO stock hit a fresh 52-week low of $3.48 on Tuesday before settling near $3.40, down roughly 6% on the day.
- Geely agreed to take a 30% stake in NIO Power, the company’s battery-swap unit, in a deal worth about RMB640 million ($95 million) in cash plus assets.
- NIO Power is now valued at approximately RMB16 billion ($2.4 billion), with NIO China keeping a controlling 63.6% interest.
- August deliveries rose 14.5% year-over-year to 35,836 vehicles, and second-quarter revenue jumped 69.1% to RMB32.1 billion.
- Wall Street remains split, with an average “Hold” rating and a $5.87 price target across 15 analysts.
NIO stock touched a new 52-week low of $3.48 during Tuesday trading before pulling back to around $3.40, a drop of about 6% on the day. The stock had closed at $3.59 the prior session. Trading volume was heavy, with roughly 4.9 million shares changing hands.
The sell-off came a day after NIO announced a new partnership with Chinese automaker Geely. Under the deal, Geely will acquire a 30% stake in NIO Power, the company’s battery-swapping and charging subsidiary.
Geely is paying about RMB640 million ($95 million) in cash and contributing its own charging business, Yiyi Power, as part of the transaction. The deal values NIO Power at roughly RMB16 billion, or about $2.4 billion.
NIO China will keep a controlling 63.6% stake in the unit after the transaction closes. Geely’s ownership could later rise to 34% under certain conditions, though it could also fall to as low as 20% if the unit underperforms.
CEO William Li framed the deal as a way to cut duplicate spending across the industry. He called on other Chinese automakers to share charging and battery-swap infrastructure rather than build competing networks.
Delivery Growth Continues
Despite the stock’s slide, NIO’s delivery numbers have been moving in the right direction. The company delivered 35,836 vehicles in August, up 14.5% from a year earlier.
The total was split across three brands. The core NIO brand delivered 21,174 vehicles, more than doubling from last year, while the ONVO brand added 8,810 and the Firefly brand delivered 5,852, up 34.7%.
For the first eight months of 2026, cumulative deliveries reached 262,893 units. That marks a 57.9% increase compared to the same period last year.
Second-Quarter Numbers Tell a Mixed Story
NIO’s second-quarter results, released September 1, showed revenue climbing 69.1% year-over-year to RMB32.1 billion, or about $4.74 billion. Vehicle margins held at 18.5% even as raw material and chip costs rose.
The company posted an adjusted net profit of RMB26.1 million, its third straight profitable quarter on an adjusted basis. Still, the adjusted per-share loss of 27 cents missed Wall Street’s forecast for a loss of 21 cents.
Management pointed to the ES8 SUV as a bright spot, saying it is on pace to reach 150,000 cumulative deliveries this month. NIO guided for 108,000 to 111,000 vehicles in the third quarter and set a goal of averaging more than 40,000 monthly deliveries in the fourth quarter.
Analyst opinion on the stock remains divided. MarketBeat tracks six Buy ratings, seven Hold ratings and two Sell ratings, with an average rating of Hold and a price target of $5.87.
Recent analyst moves have gone both ways. Goldman Sachs reissued a Buy rating with a $6.10 target on September 4, and Citigroup restated its Buy rating on September 1.
On the other side, Freedom Broker cut NIO from Strong Buy to Hold on September 2, and RBC lowered its rating to Sector Perform the following day. Weiss Ratings has kept a Sell rating on the stock since late July.
NIO’s stock now trades below both its 50-day moving average of $4.24 and its 200-day moving average of $5.16. The company’s market cap stands at $8.47 billion, with a debt-to-equity ratio of 2.11 and a current ratio of 1.02.
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