Key Takeaways NIO sees strong delivery and margin gains driven by new models and an expanding vehicle lineup.Launches of ONVO and Firefly brands boost volume, with early deliveries supporting growth momentum.Subsidy phaseouts, rising expenses and elevated debt weigh on demand, margins and flexibility.NIO Inc. (NIO) , often touted as the ‘Tesla of China’, is poised for a robust growth phase underpinned by a strong vehicle lineup. Its efforts to expand beyond its luxury lineup also bode well. However, the pha ...