Shares of electric vehicle maker Nio (NIO) have surged over the past week, fueled by evidence that its push into the mass market is gaining traction. Industry data from China show strong early demand for its more affordable sub-brands.
According to ChinaEV Home, Nio logged 7,190 insured units in the past week, marking the second time in three weeks the figure has topped 7,000, compared with fewer than 5,000 per week in July.
Last week, NIO Group logged 7,190 insured units in total — 2,520 from the NIO brand, 3,790 from ONVO (2,330 L90s and 1,460 L60s), and 880 from Firefly. (For reference) $NIO #ChinaEV #NEV pic.twitter.com/bxsUdORNok
undefined ChinaEV Home (@CNEVhome) August 19, 2025
The newly launched Firefly brand accounted for 880 registrations, while Onvo tallied 3,790 - both positioned as lower-cost alternatives to the flagship NIO lineup.
In China, “insured units” measure the number of vehicles that received insurance policies during a given period.
While not identical to official sales figures reported by the China Passenger Car Association, insured-unit data are often timelier and seen as a more accurate gauge of underlying retail demand than wholesale deliveries to dealers.
Nio’s strategic bet pays off
Nio — best known for its distinctive battery swap technology, which lets owners replace depleted packs in just minutes — appears to have been vindicated in its strategy.
CATL, the world’s largest battery maker, has announced plans to build 1,000 passenger battery-swapping stations in China this year, according to the Financial Times.
Nio already operates roughly 3,300 swap stations nationwide.
By betting early on battery swap technology and refocusing on the mass consumer market, Nio is aligning with China’s EV sales boom, positioning itself for sustained growth.
China’s growing EV market — and Nio’s place in it
Fueled by supportive policies, generous subsidies, and rapid infrastructure buildout, China’s electric vehicle market expanded nearly 40% in 2024, capturing close to two-thirds of global EV sales, according to the International Energy Agency (IEA).
On a monthly basis, EV sales have now overtaken those of conventional cars, IEA data show.
In 2024, “China maintained its lead among major markets, with electric car sales exceeding 11 million - more than were sold worldwide just 2 years earlier,” IEA said.
While Nio still represents a small share of China’s overall EV market, its production and delivery volumes continue to climb in step with rising domestic demand.
In its latest update, the company reported 21,017 vehicle deliveries in July, bringing year-to-date totals to 135,167 units — a 25.2% increase from a year earlier. Cumulatively, Nio has delivered 806,731 vehicles as of July 31.
Against this favorable backdrop, Nio’s stock has rallied more than 13% over the past five sessions, lifting its market capitalization to about $11.5 billion. The company is scheduled to release its next earnings report in early September, according to Yahoo Finance.
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