- Nio's stock has risen 26 percent this year. This article reviews the major events driving price movements.
- Earnings announcements, financing events, and new vehicle launches were among the most significant factors influencing Nio's stock price.
Before the final day of 2025 concluded, Nio Inc (NYSE: NIO, HKG: 9866) had gained 26 percent on the US stock market over the year.
Its stock experienced significant volatility throughout 2025, largely driven by specific events.
As 2025 draws to a close, CnEVPost aims to recap the major events in this article.
Overall, earnings announcements and financing events were the most significant drivers of Nio's stock price fluctuations.
The next most influential factors were new model launches, particularly developments surrounding the Onvo L90 and third-generation Nio ES8, which also significantly impacted Nio's stock price movements.
Before reading further, you can quickly view these major events and their corresponding Nio ADR prices via the interactive chart below.
The first quarter of 2025 was relatively quiet, as it was the period of the Chinese New Year holiday, when the Chinese auto market traditionally enters a slow season.
On February 25, Onvo released the first official image of its L90 SUV (sport utility vehicle), initiating pre-launch buzz for the model.
Despite the L90 being heavily camouflaged in the image, it seemed to spark investor optimism, driving Nio's stock up 10.54 percent the following day on the US market.
On March 10, 36Kr reported that Nio had internally launched a management mechanism called the CBU (Cell Business Unit), emphasizing enhanced cost control. This system was expected to be fully implemented in the second quarter, per the report.
This drove a significant surge in Nio's stock price, which closed up 17.04 percent on March 11. Nio subsequently confirmed this system during its earnings call.
On March 27, amid several days of share price declines, Nio announced plans to issue new shares for financing to fund R&D and strengthen its balance sheet. This led to further share price declines.
On April 2, Nio replaced the head of sub-brand Onvo, with Shen Fei, former head of Nio Power, succeeding Alan Ai as the new Onvo president.
On April 7, Nio announced the completion of its new share issuance, raising a total of HK$4.03 billion.
After that, Nio launched several new models: On April 19, the first model from its sub-brand Firefly went on sale; on May 16, the updated Nio ES6 and Nio EC6 were launched; on May 25, the updated ET5 and ET5 Touring were launched.
On June 3, Nio's first-quarter earnings report showed a 30 percent year-on-year increase in net loss and it had an operating cash outflow. The company flagged that current liabilities exceeded current assets.
Despite the lackluster earnings, Nio's stock price closed up 6.23 percent on June 4, following a largely flat close on June 3.
On July 10, Onvo began pre-sales of the L90 at competitive pricing, becoming a key driver behind Nio's subsequent multi-day stock surge.
Test drives for the L90 commenced on July 23, with the model officially launching on July 31.
From July 10 to July 31, Nio's stock price climbed 40 percent.
Following the L90, developments surrounding the third-generation ES8 became the second major driver propelling Nio's stock price higher.
On August 21, Nio unveiled the third-generation ES8 and commenced pre-sales with aggressive pricing. Nio's stock price rose 9.27 percent that day and surged another 14.44 percent the following day.
On August 25, Nio's Hong Kong-listed shares hit a nearly one-year high amid sustained optimism surrounding the third-generation ES8.
On September 2, Nio released its second-quarter earnings report, showing the smallest net loss since the fourth quarter of 2023. Following this, Nio's stock price declined for several consecutive days.
On September 10, Nio's Singapore-traded shares were unexpectedly halted, after which the company announced plans to issue new shares to raise about $1 billion.
Its US ADRs closed down 8.92 percent on September 10 but then experienced five consecutive trading days of gains, accumulating a 30 percent increase. This may have been due to investors leaning toward the view that the financing would help improve operating conditions.
On September 20, Nio officially launched the third-generation ES8, with a price further reduced from the pre-sales price, and pledged an annual production capacity of 40,000 units in 2025.
Nio's stock price subsequently dipped slightly before rebounding, reaching its year-to-date closing high of $7.89 on October 2.
On October 16, a report by Chinese media outlet Caixin highlighted that Nio was being sued by Singapore's sovereign wealth fund GIC Private Limited. Nio opened nearly 8 percent lower on the US market that day but recovered its losses by closing up 0.15 percent.
Nio's stock price appeared largely unaffected by the lawsuit, accumulating a roughly 7 percent gain between October 16 and November 5.
Throughout November, however, Nio's stock price declined steadily, falling about 24 percent for the month. With no major news regarding Nio during this period, the drop likely stemmed from broader weakness in China's auto market as China's vehicle trade-in subsidies gradually phased out.
On November 25, Nio released its third-quarter earnings report, showing a 31 percent reduction in net losses. Its stock price declined for several days following the earnings release, then traded around $5 for most of December.
On December 30, China announced it would continue offering trade-in subsidies in 2026. Most Chinese auto stocks traded in the US rose, with Nio closing up 3 percent at $5.50.
