Nio Stock Surges 42% in July Amid EV Delivery Growth and New Model Optimism

Nio Inc. shares staged a dramatic recovery in July, soaring 42% after a challenging first half of the year. The Chinese electric vehicle Maker reported a 17.5% year-over-year increase in June deliveries, with its newly launched Firefly and Onvo sub-brands contributing 40% of total sales.

Market enthusiasm peaked following the July 10 pre-sales launch of the L90 SUV, sending Nio's Hong Kong-listed shares up over 40% within two weeks. The rally extended to U.S. markets as investors anticipated a potential turnaround for the EV manufacturer.

While July deliveries dipped to 21,017 vehicles from June's 24,925 - causing an 8% August pullback - analysts remain bullish. The company began L90 deliveries on August 1, with internal targets suggesting over 10,000 units could ship this month.