NIO Is Up 9% Today: Is It Outperforming Other EV Stocks Like Tesla and Rivian?

Shares of Nio surged about 9-10% in midday trading as the company kicked off deliveries of its ES9 flagship SUV, a milestone that also spotlighted a broader product and strategy push. Nio said ES9 deliveries began on May 27, following pre-sales of 528,000 yuan and production ramp of more than 6,000 units since pre-sales began April 9. The company also named basketball legend Yao Ming as chief experience officer for the ES9, aiming to boost marketing momentum around the launch. In its first-quarter 2026 results, Nio reported revenue of $3.7 billion and deliveries of 83,465, up 98% year over year. And the market reaction paints a mixed picture. Nio's intraday performance positions it ahead of Tesla and Rivian, which rose 2% and 3% respectively, though longer trend favors Tesla with a 17% gain over the past month. Analysts remain constructive, with Morgan Stanley's Buy rating and a target of $6.93, Bernstein lifting its target to $6, and Bank of America expanding its stake to 14.2 million shares. Yet the company faces ongoing regulatory scrutiny in China over software updates and claimed range, as it accelerates overseas expansion and navigates competitive price pressure.