Nio Stock Jumps Overnight: EV Maker Brings Back Original Chief To Run Software Behind Its Cars

• Nio reinstated Qiyan Wang to lead its core vehicle software, replacing Ning Qu, who exited earlier this year.
• The software platform, introduced in 2023, brings together hardware, software and services into a single stack.
• The system has already been deployed in over 120,000 vehicles and will support upcoming launches like the ES9 and Onvo L80.

U.S.-listed shares of Nio, Inc. (NIO) jumped over 4% in overnight trading heading into Monday after the EV maker brought back its former software chief to take charge of the system powering its cars, even as investors weighed a recent month-on-month dip in deliveries.

Nio’s U.S.-listed shares declined 8% on Friday. Shares ended lower for the second straight week, declining 5% in the latest week.

Nio Bets On Proven Leader for Core Software

Nio said it appointed Qiyan Wang, a veteran who previously led the company’s in-house vehicle software platform, to take charge again. He replaces Ning Qu, who had been overseeing the system before being sidelined last year and later exiting the company earlier this year, automotive news site EV reported.

Wang, who joined Nio in 2016 and currently serves as vice president of engineering for digital systems, had originally led the development of the platform. The system itself acts as the central software layer inside Nio’s vehicles, connecting functions such as driver assistance, in-car features, connectivity and energy management.

The platform, introduced in 2023, brings together hardware, software and services into a single stack. It has already been deployed across multiple models and brands, with over 120,000 vehicles using it within the first 15 months of rollout.

The leadership change comes ahead of the launch of Nio’s flagship ES9 SUV later this month, which is expected to showcase the company’s full tech stack. Upcoming vehicles, including the ES9 and Onvo L80, will also rely on the same software system.

Nio Targets Profitability Amid Delivery Swings 

Nio delivered 29,356 vehicles in April, marking a 23% increase from a year earlier but a decline from March levels. The core Nio brand accounted for 19,024 units, while its Onvo and Firefly sub-brands showed growth compared to last year but also fell sequentially.

Despite the monthly dip, year-to-date deliveries hit 112,821 vehicles, up 71% from the same period last year, while cumulative deliveries crossed 1.11 million units. The company delivered 83,465 vehicles in the first quarter, exceeding the upper end of its guidance.

The ES8 SUV remained the top contributor in April with 13,020 units and recently crossed 100,000 cumulative deliveries within 215 days. Nio also introduced a new ES8 variant at the Beijing Auto Show to maintain momentum in the premium SUV segment.

Looking ahead, the company has opened pre-sales for the ES9, with deliveries expected to begin June 1, while Onvo’s L80 SUV is set to launch in mid-May. The company said that these launches could drive a recovery in deliveries through May and June. Nio is targeting 40% to 50% delivery growth this year and is aiming to achieve its first full year of profitability after reporting its first profitable quarter earlier this year.

How Do Retail Traders Feel About NIO?

On Stocktwits, retail sentiment for Nio was ‘neutral’ amid ‘normal’ message volume.

One user said, “The moat is getting wider more swap stations, more cars, more profits. I can imagine the future all cars swapping batteries like filling your tank. NIO the only real business model.”

Another user said, “$7S coming. The E.V. sector is expanding in other countries and gasoline vehicles are fading out slowly. Nio has good market share. Patience here.”

U.S.-listed shares of Nio have jumped 50% over the past year.

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