NIO order surge fuels Goldman Sachs upgrade to Buy

Goldman Sachs raised its rating on Chinese electric‑vehicle maker NIO to "Buy" and set a price target of $7, implying about a 42% upside. The upgrade helped the stock climb roughly 3% to $4.93.

In the same period, NIO logged a sharp increase in new‑energy vehicle orders, reaching about 294,000 orders through mid‑July. Weekly order totals jumped to 86,183 in May and 78,636 in June, with roughly 18,000 orders recorded in the first two weeks of July. The three‑month tally of about 183,000 orders puts the company on track to exceed 200,000 orders for the May‑July stretch. The surge followed the launch of the ES9 model and the introduction of a five‑seat ES8, which together boosted weekly order volumes and saw the ES9 achieve 10,000 deliveries within about 30 days of launch.