Nio is an innovative auto company operating in the world's largest auto market, but I'm still bearish on it.The Chinese auto market is enormous. It comprised 30% of all global auto sales in 2025 and it positively dwarfs the next four largest markets -- the U.S. at 18% of all sales, India and Japan at 5.1% each, and Germany at 3.2%, according to one set of data.In the first half of 2025, electric vehicles (EVs) and hybrids, which China classifies together as "new energy vehicles," reportedly became the major ...