Bofa Lifts Nio Price Target After Nio Day - ES8 Orders Top 40,000 But Shares Slip In Hong Kong

Bank of America Securities raised its price target on Nio to $7.60 from $7.10 and maintained a 'Neutral' rating following the company's Nio Day event in Hangzhou. 

In a note, analysts at the bank's research arm told investors that Nio has built 3,500 battery swap stations and established a swap network spanning 20 major highways and 16 city clusters. However, Nio's stock declined nearly 2% in early Hong Kong trading on Monday.

At Nio Day 2025, the company unveiled its third-generation ES8 SUV, with deliveries set to begin on Sunday. Locked-in orders for the model with non-refundable deposits have already exceeded the company's announced production cap of 40,000 units for this year, CnEVPost reported, citing local media outlet LatePost. Deutsche Bank earlier estimated around 100,000 cancellable pre-orders for the model as of mid-September.

The ES8, which features a 100-kWh battery pack, starts at 406,800 yuan ($57,170), a cut of nearly 27% from the previous version's price. Under Nio's Battery-as-a-Service subscription plan, the entry price drops further. To address order backlogs, the company has said it will compensate buyers if delays push deliveries into 2026, when reduced government purchase tax incentives take effect. 

Customers facing delays longer than eight weeks are also eligible for daily credit points, according to details published on Nio's app.

Alongside the ES8, Nio introduced the ET9 Horizon Edition, a premium flagship sedan priced from 818,000 yuan, with deliveries scheduled to start at the end of September. The company said ES8 production will ramp from 10,000 units in October to 15,000 units in December.

On Stocktwits, retail sentiment for Nio was 'bullish' amid 'normal' message volume.

One user noted that Nio often dips at the open before climbing through the rest of the session, predicting a green start ahead in U.S. trade. 

Another user said it was difficult to watch the stock slip in Hong Kong trading, adding that they had hoped to avoid the kind of post–Nio Day dip seen last year.

Nio's U.S.-listed stock has risen 69% so far in 2025.

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