NIO Stock Hits The Brakes After 3-Day Rally: Xiaomi Reportedly In Talks Over Last German Hub Amid 90% Sales Crash
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Xiaomi reportedly held talks over Nio’s last German sales and service hub, with representatives visiting the Munich facility repeatedly.
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Nio registered just one vehicle in Germany last month and 20 through the first nine months of 2026, down 90.5% year-over-year.
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Xiaomi is preparing to begin overseas vehicle sales in the second half of 2027 and has signed preliminary agreements with eight German dealer groups.
U.S.-listed shares of Nio, Inc. (NIO) snapped a three-day rally on Thursday as a report revealed that Xiaomi had held talks over its last remaining German sales and service hub, putting the EV maker’s struggling business in the country back in focus.
Nio’s U.S.-listed shares fell 4% on Thursday, marking their worst session in more than a week. The stock is still up 1% for the week, on track for its strongest weekly performance since late August and poised to snap a six-week losing streak.
Nio’s Last German Hub Draws Xiaomi’s Interest
Xiaomi representatives have visited the Munich facility several times, EV reported, citing a person familiar with the matter. The visiting Xiaomi representatives were apparently often accompanied by Hui Zhang, Nio’s group vice president and managing director for Europe.
The Munich hub combines a showroom, community space and workshop, supporting sales, test drives, deliveries, maintenance and repairs. Nio opened it in June 2023 at a property previously occupied by a Ferrari dealership. The facility became Nio’s only remaining German hub after its Cologne and Weiterstadt locations closed at the end of last month. It is also the company’s only site in Germany with its own workshop.
Nio’s German Business Slows To Just 20 Registrations
The reported discussions follow a steep decline in Nio’s German business. The company registered just one vehicle last month, bringing its January-September total to 20. This compares with 1,263 registrations in 2023, its first full year in the market.
Nio attributed its recent hub closures to automotive market conditions and efforts to optimize its European operations. When Nio notified users of the closures in July, a company representative said the changes were “not a retreat” and that it was leaving neither Germany nor Europe.
However, its Nio Houses in Berlin, Frankfurt, and Dusseldorf remain open. German owners can also arrange maintenance through partner workshops, with 25 locations listed on the company’s service page this week. Nevertheless, Nio has moderated its regional expansion plans. CEO William Li said last month that the company would not pursue European growth “for its own sake.”
