Key Takeaways NIO's deliveries hit a record 87,071 in Q3 2025, rising 41% year over year.BYD's Q3 revenues fell 3% as price cuts and competition hurt sales and margins.NIO's new ONVO L90 and ES8 models are boosting demand and improving vehicle margins.China is the world’s biggest electric vehicle (EV) market. BYD Co. Ltd. (BYDDY) and NIO Inc. (NIO) are two noted Chinese EV players.BYD started as a battery maker in 1995 and has grown into the world’s fastest-growing EV manufacturer and the chief global rival ...