Nio, Onvo and Firefly crossed 150,000 combined deliveries in Shanghai.
- Shanghai contributed nearly 11% of Nio’s first-half China retail sales.
- Nio and Onvo models captured over 60% of the city’s large SUV market.
- Firefly deliveries surged nearly 272% and topped 70,000 cumulatively.
U.S.-listed shares of Nio, Inc. (NIO) rose 1% in premarket trading on Tuesday after new data showed that the EV maker sold 20,736 vehicles in Shanghai during the first half of 2026, accounting for nearly 11% of its China retail sales.
Nio’s U.S.-listed stock declined 1% on Monday, with shares tracking their third straight month of losses.
Nio Large SUVs Lead Shanghai
Large SUVs were a major driver of Nio’s Shanghai performance. The Nio ES8 and ES9, together with Onvo’s L80 and L90, captured a combined share of more than 60% of Shanghai’s large SUV market during the first half. The ES8 has ranked as the city’s best-selling large SUV for eight consecutive months. Cumulative deliveries of the third-generation model are expected to reach 130,000 this week, with the latest 10,000 units delivered in about a month, CnEVPost noted.
Momentum has improved following the launch of a five-seat ES8 in July. The new version carries a lower starting price than the six- and seven-seat configurations and is designed to attract buyers who want the space and premium features of a large SUV without a third row. The ES9 is also gaining traction at the upper end of the market. The flagship SUV crossed 10,000 nationwide deliveries within 30 days of launch, while Shanghai deliveries have already exceeded 1,000 units.
Firefly Targets Young EV Buyers
Nio’s compact Firefly brand is emerging as another growth driver. Firefly delivered 29,172 vehicles during the first half, up nearly 272% from a year earlier and accounting for more than 15% of Nio’s total deliveries during the period. The brand has now delivered more than 70,000 vehicles since customer deliveries began in April 2025.
Firefly also launched Habitat, the first model in its design-focused Halo series. The special edition retains the standard model’s electric motor, battery pack, and 420-kilometer range, but adds exclusive exterior paint, wheels, and nature-inspired interior materials. The launch gives Firefly a more premium lifestyle offering as Nio looks to build visibility among younger buyers and urban commuters without relying solely on lower prices.
Nio’s 3-Brand Strategy Gains Scale
Nio, Onvo and Firefly have collectively delivered more than 150,000 vehicles in Shanghai. The three-brand structure allows Nio to compete across multiple segments, with its namesake brand targeting premium buyers, Onvo focusing on families, and Firefly addressing the smaller urban EV market.
Onvo’s L60 has surpassed 100,000 cumulative deliveries, while more than a third of its buyers reportedly switched from or replaced their vehicles with those from traditional luxury brands. Nio’s existing premium models also remain strong in Shanghai. Combined deliveries of the ES6 and EC6 have topped 60,000 in the city, while the ET5 and ET5 Touring have exceeded 30,000.
Nio’s infrastructure remains another important part of its Shanghai strategy. The company operates 214 battery-swap stations in the city, more than in any other Chinese market, and has completed about 12.7 million battery swaps there.
How Do Retail Traders Feel About NIO?
On Stocktwits, retail sentiment for NIO slipped to ‘bearish’ from ‘neutral’ levels a day ago amid a 176% jump in 24-hour message volumes.
One user said, “$NIO always moving, always innovative. This is what some of you are betting against. Can’t stop the tide”
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Another user said, “$NIO it has to eventually start moving it’s way undervalued IMHO”
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Nio’s U.S.-listed stock has risen 10% over the past year.
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