What's Going On With Nio Stock?

Nio Inc NIO shares are trading higher Monday ahead of China's first-quarter GDP data release. The Hong Kong stock exchange jumped to an eight-week high ahead of the print. 

What To Know: The Chinese government is expected to release first-quarter GDP and March activity data on Tuesday, per Reuters. 

Most economists are expecting GDP to have climbed in the quarter as the country pulled back on its COVID-19 restrictions.

"We have seen dividends from COVID policy shift on consumption and investment, including stronger than expected exports," said China Merchants Securities economist Zhang Yiping.

According to a Reuters poll of economists, GDP growth is expected to have increased to 4%, up from 2.9% a quarter earlier. If economists are right, the number would mark the fastest growth rate since the first quarter of 2022.

What Else: Auto Shanghai 2023, officially known as the Shanghai International Automobile Industry Exhibition, is set to kick off this week. 

Nio competitor XPeng Inc XPEV unveiled its new integrated technology architecture ahead of the event. The new platform architecture called SEPA2.0 offers a series of more advanced architectural solutions expected to shorten the R&D cycle of future vehicle models by 20%.

Related Link: Why XPeng Stock Is Accelerating Higher Today

NIO Price Action: Nio shares were up 2.8% at $9.55 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Nio.