The disclosure, though reflecting holdings from 45 days prior, led to NIO's stock falling to $4.57. Meanwhile, BlackRock increased its stakes in Lucid Group and Rivian, and also trimmed its position in XPeng, signaling a rotation away from Chinese EV names. This market reaction occurred despite NIO reporting strong July deliveries, up 71% year-over-year, and positive Q1 2026 financial results.