Nio shares hit 18-month low as CEO questions payoff from self-driving

what happened

Shares of Nio (NIO) in the U.S. touched an 18-month low on Wednesday, falling to $3.32, according to Stocktwits. That is their lowest level since April 2025 and about 95% below the January 2021 record.

Speaking at the World Intelligent Connected Vehicles Conference in Beijing, CEO William Li named two tests for the next phase of autonomous driving: whether users are willing to pay, and whether measurable evidence shows the technology is safer than human drivers. Li said 20% of used-car owners subscribe, which he described as a small paying base, and cited a claim that Nio's active safety system cut users' accident losses by 38.4% in the first half of 2026.

Stocktwits also reported that Nio-brand registrations in the Netherlands fell 89.4% in the first nine months, to 11 vehicles, while China's passenger-car retail sales dropped 28% in September.

why it matters

For markets, the message is that Nio's possible revenue from self-driving features remains weak, since most owners get the subscription free for five years. Falling sales in China's car market add pressure on the stock.

market impact

NIO and Chinese EV stocks: weak demand and doubts about subscription revenue weigh on shares

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