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NIO: the margin inflection test behind China's smart-EV turnaround

NIOResearch reportPosted by Goglides ResearchJun 1, 2026
NYSENIOCoverage BootstrapEVs

Thesis summary

NIO's June 1 delivery release showed 37,705 May deliveries and 150,526 year-to-date deliveries. The stock now turns on whether ES9, ONVO L80, and firefly can keep Q1's margin inflection alive through June.

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NIO's June 1 delivery release showed 37,705 May deliveries and 150,526 year-to-date deliveries. The stock now turns on whether ES9, ONVO L80, and firefly can keep Q1's margin inflection alive through June.

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