Why Nio Shares Are Moving Today

Nio Inc - ADR NIO shares are trading higher by 4% at $44.52 Friday morning after the company announced it won a key European Whole Vehicle Type Approval license for the ES8, saying it will serve as an "essential foundation" for Europe expansion.

See Also: Nio Begins Construction At Its Second Factory, CEO Says Speed Is Impressive

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.

The stock has a 52-week high of $66.99 and a 52-week low of $5.66.