Roundup: September 2026 deliveries by major Chinese automakers

Nio (NIO) has partnered with Geely to expand its battery-swapping and charging networks. Geely will invest RMB640 million and contribute its Yiyi Power business, gaining a 30% stake in Nio Power. Nio retains 63.6% control. The deal aims to improve network economics and reduce infrastructure costs. Nio's power-solutions revenue grew to RMB2.46 billion in 2025, up from RMB2.10 billion in 2024.

Nio (NIO) shares hit a 52-week low, down 55.6% over the past year, after a 50.95% decline from April's peak. Geely's 30% stake in NIO Power, valued at $2.4B, raised concerns about dilution of Nio's competitive advantage. Despite record battery swaps and strong deliveries, analysts' price targets vary widely, with an average of $6.31. The stock faces challenges from China's EV price war and ONVO's declining sales.

Nike (NKE) shares hit a 13-year low of $31.97 after reporting weaker-than-expected Q1 2027 revenue and outlook. Nio (NIO) faced concerns over EV price competition and margin pressure, while AppLovin (APP) dropped after a court denied its request for relief against Unity. All three stocks reached 52-week lows, with NKE and APP falling over 3% and 4%, respectively, and NIO down 0.8%.

12 listed automakers reported overseas sales accounting for over 35% of their totals, with Chery Automobile (09973.HK) at 70.3%. All missed annual targets, with completion rates below 67%. SAIC Motor (600104.SS) led sales, while BYD (002594.SZ) saw a 3.94% decline. Leapmotor (09863.HK) grew fastest, while Li Auto (02015.HK) underperformed. Industry faces price wars and overseas expansion challenges.

Nio (NIO) is outperforming in China's brutal auto price war, with Q2 2026 vehicle deliveries up 49.4% YoY and revenue up 80.1%. Higher-end SUVs like the ES8 and ES9 boosted margins. Nio's battery-swap network, initially costly, is turning profitable, with Geely investing $95M for a 30% stake in Nio Power, signaling long-term growth potential.

XPENG, a Chinese EV maker, has signed carbon credit agreements with Porsche and other automakers, expecting over $149M in transactions. XPENG aims to receive $74.5M from carbon-credit trading by 2026. The deals are driven by EU emissions rules, which create financial value for EV-heavy manufacturers. XPENG's growing EV sales, both domestically and internationally, contribute to its ability to generate these credits.