Nio’s Hottest SUV Still Has A Waiting List – And Even NBA Legend Yao Ming Had To Wait 2 Months For It

• Despite serving as the ES9’s chief experience officer, Yao queued alongside regular buyers, underscoring the SUV’s strong backlog.
• Premium ES9 variants currently carry 13–14-week waits, while Deutsche Bank estimated more than 25,000 non-cancelable orders.
• Nio delivered 35,934 vehicles in July, up 71% year over year, taking its seven-month total to 227,057 units.

U.S.-listed shares of Nio, Inc. (NIO) rose 0.4% overnight heading into Thursday after NBA Hall of Famer Yao Ming took delivery of his ES9 after a wait of more than two months, highlighting sustained demand for the flagship electric SUV.

Nio’s U.S.-listed shares fell 2% on Wednesday to $4.65 and are on track for a weekly loss after declining nearly 5% so far this week. 

Nio ES9 Backlog Remains Strong 

Yao’s handover was more than a celebrity moment. Despite serving as the ES9’s chief experience officer, the former Houston Rockets star waited in the same queue as other buyers after confirming his order shortly after reservations opened. “After a long two-month wait, I finally got my ES9 today,” Yao wrote Wednesday on the Nio App, CnEVPost reported.

The backlog behind Yao’s wait is visible across the ES9 order book. Delivery times for premium variants remain at 13-14 weeks after previously reaching 16-17 weeks. The lower-priced version, which excludes Nio’s SkyRide active suspension, carries a three-to-four-week wait. 

Deutsche Bank estimated that the ES9 had secured more than 25,000 non-cancelable orders by June and raised its 2026 delivery forecast for the model to 56,000 units. Nio expects to deliver its 20,000th ES9 this week, 10 weeks after customer handovers began. The first 10,000 arrived by June 26, while the next 10,000 took about six weeks, suggesting that demand was firm beyond the initial launch rush.

Premium SUVs Lift Nio’s Pricing 

The ES9 starts at 498,000 yuan ($73,000), including the battery. Buyers using Nio’s Battery-as-a-Service program can reduce the upfront price to 390,000 yuan by paying separately for battery access.

That premium positioning matters to Nio’s financial recovery. The main brand’s average transaction price reached 443,000 yuan in June and 434,600 yuan in July, supported by the ES9 and the large ES8 SUV. Deutsche Bank expects the stronger contribution from higher-margin vehicles to help Nio reach non-GAAP breakeven in the second quarter. Nio delivered 35,934 vehicles in July, up 71% year over year, though down about 11.5% from June. Deliveries during the first seven months of 2026 rose 68% to 227,057 units.

Nio Expands Battery-Swap Network 

Additionally, Nio is accelerating its battery-swap rollout through an asset-light partnership model. Zhongan Energy and Nio Power completed 90 jointly developed stations, moving their cooperation beyond its Anhui pilot phase. The companies plan to build 500 stations across four major Chinese regions under an agreement signed in June.

Partners finance and own the stations, while Nio supplies the technology and manages operations. The arrangement lets Nio expand its network without carrying the entire infrastructure cost. 

Nio currently operates 3,997 battery-swap stations and 5,156 charging sites in China. Its first fifth-generation station will open in Quanzhou on Aug. 7, becoming the company’s 4,000th swap location. The new design accommodates a wider range of wheelbases and will allow Nio’s compact Firefly vehicles to access the network for the first time.

How Do Retail Traders Feel About NIO?

On Stocktwits, retail sentiment for NIO improved to ‘bearish’ from ‘extremely bearish’ levels a week ago amid ‘normal’ message volume.

One bullish user said, “AI will hasten completely autonomous self-driving EVs sooner rather than later and battery swapping will be a necessity for the autonomous driving fleets. There is no doubt in my mind we will see this within 3 to 5 years.”

Meanwhile, another user said, “$NIO Not looking good. Looks like if stock market dumps, all Chinese EV's are dumping and not following up on green days. No meaningful gains and sitting at 1 year lows.”

Nio’s U.S.-listed stock has risen 23% so far this year. 

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