NIO showcased an impressive performance in the U.S. stock market. On a particular day, its stock price defied the overall market trend, surging more than 8% and hitting a new yearly high. UBS has upgraded NIO's rating to a "Buy," setting a target price of $8.50. The upgrade is based on the company's growth potential, which is driven by several key factors: solid financial performance, a diverse and appealing product range, and growing consumer confidence. UBS deems the current valuation reasonable and anticipates that the stock price will continue to climb over the next 12 months.

Regarding its product lineup, NIO is making significant strides with its dual-flagship three-row SUV strategy. The brand-new ES8 is slated to make its debut at NIO Day. Additionally, the Onvo L90 has witnessed robust market demand since its launch. Within just 45 days, 14,500 units have been delivered, and it has consistently ranked among the top three in weekly large SUV sales for seven consecutive weeks.