The Chinese electric vehicle (EV) company Nio (NYSE: NIO) has reached another milestone in 2026 with its May deliveries report, which featured a substantial 28.4% month-over-month (MoM) increase and an impressive 62.3% year-over-year (YoY) increase.
Specifically, the EV maker shipped 37,705 cars during the month against 23,231 in the same period in 2025 and 29,356 in April, 2026. The by-brand breakdown came in 5,663 Firefly automobiles, 12,029 from ONVO, and 20,013 main-name vehicles.
The latest report also increases the odds of the firm reaching its second-quarter (Q2) target, set at between 110,000 and 115,000 during the May 21 earnings call, and it brought the year-to-date (YTD) total to 150,526 and the lifetime total to just under 1.15 million.
Nio stock soars on strong May deliveries report
Nio stock provided an immediate reaction with a 6.79% one-session jump to $5.98 that extended in the June 1 after-hours and June 2 pre-market with a 3.34% rally to the equity’s press time price of $6.18.
Technical analysis (TA) of the shares indicates the Chinese EV maker is enjoying mounting tailwinds. Indeed, unlike TA based on the last month of trading, which positions NIO as overall ‘Neutral,’ both the weekly and daily readings Finbold retrieved from TradingView on June 2 signal the stock is a ‘Buy.’
Additionally, the most recent session rally, despite its relative magnitude, failed to increase the risk of a correction, with the relative strength index (RSI) showing 52.29. Critically, the figure also does little to indicate the upsurge would continue as it positions Nio as neither overbought nor oversold.
Nio stock shoots up in 2026 as EV industry continues decline
Elsewhere, the May deliveries report serves to reinforce that Nio has been enjoying a comparatively strong first half (H1) of 2026. The EV maker’s equity is up 16.34% YTD, unlike the other prominent names from China.
For example, BYD is down 1.38%, Xpeng (NYSE: XPEV) declined 15.81%, and Li Auto (NASDAQ: LI) fell 15.71% within the same timeframe.
Nio is also outperforming its western competitors, which have also been suffering from President Donald Trump’s removal of EV incentives. Elon Musk’s car company Tesla (NASDAQ: TSLA) declined 5.07% in H1, 2026, and the Saudi-backed Lucid (NASDAQ: LCID) crashed 40.36%.
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