NIO +4% On Tuesday - What's Going On?

Zinger Key Points
  • NIO's premarket surge follows the delivery of its 200,000th ES6, marking significant progress in EV sales.
  • Expansion into Europe continues as NIO recently adds a new NIO House in the Netherlands, bolstering its global presence.

NIO Inc. NIO shares are trading higher in the premarket session on Tuesday.

According to Benzinga Pro, NIO stock has lost over 34% in the past year. 

Over the weekend, the company reportedly achieved a milestone by delivering its 200,000th ES6, coinciding with the one-year anniversary since the launch of the model’s second generation, CnEV Post reported.

Nio, the electric vehicle (EV) manufacturer, recently delivered the vehicle to a customer in Shanghai, the report read, citing an announcement made on its mobile app.

Nio has sold over 31,000 units of the ES6 in Shanghai since 2019.

By the end of April, sales figures showed that over 127,000 units of the first-generation ES6 had been delivered. Additionally, in the past year, the second-generation ES6 has seen impressive sales, with more than 73,000 units sold, CnEV Post added.

NIO recently said it will hold an annual general meeting of shareholders on June 25, 2024. The company will publish its first-quarter results on June 6

The company is currently in the headlines for adding a new NIO House in the Netherlands as it moves ahead with efforts to expand in Europe.

Following the Rotterdam opening on March 23, 2023, the NIO House in the Netherlands becomes NIO’s second establishment in the country.

Investors can gain exposure to the stock via KraneShares MSCI China Clean Technology Index ETF KGRN and Invesco Golden Dragon China ETF PGJ.

Price Action: NIO shares are trading higher by 3.73% to $5.02 premarket at last check Tuesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo by Sundry Photography on Shutterstock

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