Overview
- China’s NDRC and Ministry of Finance confirmed vehicle trade-in incentives will run through 2026, with up to $8.92 billion in funding next year.
- Updated rules offer low double-digit rebates for buyers who scrap older cars and purchase EVs, with smaller support for qualifying gasoline models.
- Nio jumped with Chinese EV peers on Dec. 30, then slid on Dec. 31 toward roughly $5 support as profit-taking, rebalancing and broader China equity volatility weighed.
- Nio’s Firefly brand began deliveries in Austria and continued rollouts to customers in Belgium, Denmark, Greece, Norway and the Netherlands.
- The company flagged a chip shortage affecting the ES8 SUV that could slow production and deliveries, and said a temporary workaround is in place.