Investor sentiment was also buoyed by Morgan Stanley’s price target hike to $6.50, suggesting nearly 30% upside from Nio’s last U.S. close.
Nio shares climbed in Hong Kong on Thursday as excitement built around the company’s revamped ES8 SUV, set to be unveiled later in the day at a pre-launch event in Hangzhou.
At the time of writing, Nio shares were trading at HK$40.84, up HK$1.72 or 4.4% on the day.
The Chinese electric carmaker shared fresh images of the third-generation ES8 on Weibo, showcasing upgrades such as an in-car refrigerator, reworked seating layouts, and larger trunk space.
The vehicle will be introduced at an event in Chengdu at 7:30 p.m. local time, with its official launch slated for Nio Day 2025 next month.
The latest ES8 comes equipped with three LiDAR sensors, including a roof-mounted unit capable of scanning up to 500 meters, and uses a dual-motor all-wheel-drive system borrowed from Nio’s ET9 sedan, CnEVPost reported.
The setup delivers 707 horsepower and 700 Nm of torque. The ES8’s 100-kWh battery pack is standard, as is a driving range of 635 kilometers on the China Light-duty Vehicle Test Cycle (CLTC) test.
Nio also cut the price of its long-range 100-kWh pack by 20,000 yuan ($2,780) on Aug.19. The price of the upcoming ES8 is thus below that of its predecessor, which began at 498,000 yuan with a 75-kWh battery.
The latest ES8 will be offered in both six and seven-seat setups and is noticeably larger than the outgoing model, with a longer wheelbase that translates into more room inside.
Confidence around the stock also got a lift after Morgan Stanley raised its price target on Nio’s U.S.-listed shares to $6.50 from $5.90, implying a 28% upside from Wednesday’s $5.07 close.
Nio will report its second-quarter earnings on Sept. 2.
For the quarter through June, it delivered 72,056 vehicles, including 47,132 under the Nio brand, 17,081 from Onvo, and 7,843 Firefly vehicles.
Analyst sentiment on the stock remains mixed. Of the 26 analysts covering Nio, four rate the stock a ‘Strong Buy,’ eight call it a ‘Buy,’ 13 recommend ‘hold,’ and one has it as a ‘Strong Sell.’
The ES8 has long been central to Nio’s story. First introduced in 2017 as the company’s debut mass-market vehicle, it was refreshed in 2022 with a second-generation model.
The new third-generation ES8 is expected to remain a key pillar of the lineup as competition in China’s crowded EV market continues to heat up.
On Stocktwits, Nio ranked as the top-trending equity, with retail sentiment described as ‘bullish’ on ‘normal’ message volume.
One user said the latest rally had them thinking Nio’s stock could soon revisit its IPO price of $6.26. The stock’s all-time high is $63.23, reached in January 2021.
Another user remarked that August deliveries should benefit from the launch of the L90, Firefly’s expansion into new markets, and recent price cuts on long-range models.
Nio’s U.S.-listed stock has risen 16.3% so far in 2025.
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