# Latest NIO News
BlackRock, the world’s largest asset manager, has increased its position in Chinese electric vehicle maker NIO by 64.9% in the first quarter of 2024, acquiring 1,352,058 shares to bring its total holdings to 3.43 million shares as of March 31[1]. This move comes despite BlackRock’s overall significant reduction in NIO holdings throughout 2024, having cut its stake by 92% in the third quarter of last year[1].
NIO is currently implementing cost-cutting measures by merging regional management roles across its NIO and Onvo brands[5]. The company has appointed single general managers to oversee both brands in each region, replacing the previous structure where brands had separate managers for each territory[5]. This restructuring follows the departure of Onvo chief Alan Ai and the transition of other executives to new roles within the NIO Group[5].
Despite these organizational changes, NIO delivered 23,900 electric vehicles in April 2025, its second-highest monthly total, including 4,400 units of the Onvo L60[5]. However, the company’s stock performance has been challenging, falling 8% year to date and 27.6% over the last 12 months[1].
NIO, which debuted on the New York Stock Exchange in September 2018, experienced a remarkable surge of nearly 5,000% between October 2019 and January 2021, reaching around $67 per share[1]. This growth was driven by a rally in EV stocks and the broader market rebound following the COVID-19 pandemic[1]. Currently, the company is facing heavy competition in China’s fierce EV market and is reportedly making key design decisions “within hours” as part of its strategy to break through[3].