Nio posts 10,059 October deliveries, stock pops amid broader China rally
Nio Inc. said Tuesday morning that it delivered 10,059 vehicles during the month of October, bringing the Chinese electric-vehicle company's year-to-date deliveries up to 92,493. Nio announced that its October deliveries consisted of 5,979 premium smart electric SUVs as well as 4,080 premium smart electric sedans. "The vehicle production and delivery were constrained by operation challenges in our plants as well as supply chain volatilities due to the COVID-19 situations in certain regions in China," the company disclosed in its release. U.S.-listed shares of Nio were up more than 8% in premarket trading Tuesday amid a broader rally in Chinese American depositary receipts (ADRs). The Wall Street Journal reported that shares in Hong Kong and Shanghai seemed to be advancing after social-media rumors indicated that China's government may be looking to ease up on its severe COVID-19 restrictions.
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