Why Nio Stock Moved Higher Today
Chinese electric vehicle maker Nio (NYSE: NIO) just hit a new milestone at the same time that news came out of another upstart EV maker in the U.S. getting ready to jump in the game. With headlines about EV expansion swirling, Nio's American depositary shares are moving higher today. As of 10:45 a.m. EDT, Nio shares were 2.75% higher.
Investors have been watching Lucid Group (NASDAQ: LCID) this week as it opened its Arizona manufacturing facility to visitors and announced that it has begun production of its highly anticipated luxury electric sedans. That comes as Nio is getting closer to launching its own luxury sedan early next year.
Nio will not only launch in its home market of China, but also in Europe, by opening a Nio House in Oslo, Norway. Nio Houses are available exclusively to Nio vehicle owners and include a showroom and cafe, among other amenities.
Source Fool.com
