NIO’s 100,000-order surge signals a fresh fightback in China’s EV Market

A stronger model mix and rapid early take-up for new SUVs have lifted the Chinese EV maker back into contention, though sustained deliveries and margins remain the key proof points

NIO ES9 SUV

NIO Group’s latest order surge marks a sharp improvement in competitive momentum, with roughly 100,000 firm orders booked across its three brands in the four weeks to mid-June 2026, according to Goldman Sachs’ research. The same data put the group's two-week total above 47,000 units, suggesting that demand remained resilient after the initial launch spike for its flagship ES9 SUV.

NIO sells through three brands: the premium Nio marque, the family-focused Onvo, and the compact Firefly. The surge reset the company's standing in a market it had trailed for much of the past year.

The scale of the rebound was clearest in Goldman’s week-22 reading (May 25–31), when NIO’s weekly firm orders reached 38,810 units. That placed the company ahead of Geely’s Galaxy and Zeekr lines combined at 22,100, Li Auto at 8,700, and Xiaomi at 8,600, while only BYD, at 48,700, and Huawei’s multi-brand HarmonyOS Intelligent Mobility alliance, at 40,680, ran higher that week.

Although orders cooled in early June as the new-model effect faded, NIO still logged about 28,000 units in the June 1–7 week, more than Li Auto, Xiaomi, and Xpeng booked together. The main catalyst was the ES9, which began deliveries on May 28 after securing tens of thousands of locked orders within its first days on sale.

The full-size SUV starts at 498,000 yuan (c. $73,700) and runs to 628,000 yuan (c. $92,900), with NIO's battery-as-a-service rental lowering entry pricing to 390,000 yuan (c. $57,700). It measures 5,365 mm long, uses a 900V architecture, and pairs dual motors for 520 kW (697 hp) and a 4.3-second 0–100 km/h (0–62 mph) sprint. A 102 kWh NMC pack delivers 620 km (385 miles) of CLTC range, and the car adds steer-by-wire and rear-wheel steering.

Demand was not confined to the new model. NIO's updated ES8 was still drawing close to 4,000 weekly orders during the same stretch and is closing on its 120,000th delivery since launch. Combined momentum lifted May deliveries to 37,705 units, up 62.3% year-on-year, with ES9 wait times stretching to roughly 17 weeks.

The Onvo sub-brand has added a second growth lever. Its new five-seat L80 SUV launched on May 15 and delivered nearly 6,000 units in its first half-month, while an updated L60 reached the market on June 11. Together with the ES9 and the refreshed ES8, Onvo broadens NIO’s recovery beyond a single flagship model. NIO has guided for June deliveries of 43,000 to 48,000 units, which would set a monthly record.

The order strength lands as NIO works to consolidate a financial turnaround. The company reported its second consecutive profitable quarter in the first quarter of 2026 and has reaffirmed a full-year profitability target, but the next test will be converting locked demand into sustained deliveries, stable margins, and repeatable profitability.