Nio's ES8 Joins the 150,000 Club as Geely Deal Reshapes the Battery-Swap Unit
Published on 10/04/2026 at 16:50 | Editorial boerse-global.de
Nio's flagship SUV lineup keeps rewriting its own record book. The All-New ES8 passed 150,000 cumulative deliveries on September 20, and the ES9 followed just three days later by clearing 30,000 units since deliveries began on May 28, 2026 — a pair of milestones that underline how heavily the premium end of Nio's range still carries the brand.
Those model-level wins sit atop a broader volume expansion. Nio handed over 37,408 vehicles in September, a 7.7 percent improvement year over year, and wrapped the third quarter with 109,178 deliveries — up 25.4 percent from the same period a year earlier. For the first nine months of 2026, the tally reached 300,301 units, a 49.2 percent jump compared with the prior-year stretch. The company formally lodged the figures with the U.S. Securities and Exchange Commission in a Form 6-K on Friday.
Geely Takes a 30 Percent Slice of NIO Power
While the delivery reports grab headlines, the more consequential development may be unfolding on the infrastructure side. Nio and Zhejiang Geely Holding Group have struck a strategic transaction under which a Geely subsidiary will contribute its entire stake in Yiyi Internet Technology plus 640 million RMB in cash, receiving a 30 percent interest in NIO Power in return.
Should investors sell immediately? Or is it worth buying Nio?
The deal remains subject to regulatory clearances and the satisfaction of customary closing conditions before the stake takes effect. Once the capital injection is completed, NIO Power will carry a valuation of roughly 16 billion RMB, with NIO China retaining a 63.6 percent majority. In a related move, NIO China agreed to subscribe for a 10 percent stake in Geely's Haohan Energy, with the proceeds earmarked to fund Haohan's purchase of certain charging equipment from Nio.
There is also a European dimension taking shape. CEO William Li said on September 29 that the two companies had discussed jointly presenting plans for a European battery-swap network in 2027, according to media reports — though no such commitment for the European market has yet been written into the existing contractual documents between the partners. Battery swapping remains one of Nio's sharpest differentiators, and the company extended that lead technologically on September 23, when its first fully solar-powered, off-grid swap station went live in Xingxingxia, Xinjiang, serving as a node on the 3,605-kilometer Silk Road swap route.
The Stock Isn't Buying the Story Yet
Investors, for their part, have yet to reward any of it. The shares closed Friday at EUR 3.00, leaving them just 1.4 percent above their 52-week low of EUR 2.96. Year to date, the stock has shed 37 percent.
Margin pressure across China's electric-vehicle sector continues to keep market participants on the sidelines, even as the home market remains fiercely competitive and Nio leans on an expanding model lineup and its charging and swap infrastructure to defend its position. The question traders are weighing is whether steady volume gains in the SUV range and shared investment in the charging network can meaningfully ease the financial strain of day-to-day operations over the medium term.
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