NIO Stock Pops Today: What Should You Know?

Nio, a Chinese multinational automotive manufacturer, has been on the significant positive change in the prices of the shares by 3% since yesterday. Such price increase is explained by the latest announcement from the company that NIO plans to collaborate with fleet-as-a-service solutions. Moreover, yesterday the biggest EV-producer in the world Tesla has announced that their factory located in Shanghai has produced a record volume of electronic vehicles, which has significantly affected NIO.

Taking a look at the data provided by the China Passenger Car Association, Tesla has produced 56,006 Model 3 and Model Y vehicles. Furthermore, NIO is planning to expands its global logistic system with an emphasis on exporting to Europe. For example, in the last year, the company’s shipment went to Norway with the plans to deliver its ET7 luxury sedan to Germany. Finally, the EV market of China is growing simultaneously with the EV market of the U.S.A.