NIO Stock: The Announcement Giving Investors in the Chinese EV Maker Confidence Today

Nio (NYSE: NIO) stock is on the pass Friday after the firm revealed plans for battery swapping stations on the present time.

A Nio (NIO) sign and logo on a tan concrete building.

A Nio (NIO) signal and imprint on a tan concrete building.

Source: Sundry Pictures / Shutterstock.com

The battery swapping stations news comes straight from Nio president Qin Lihong. He claims that the firm can have as many as 700 of these stations ready to head all the way by way of the arena by the cease of the year.

The clear news for NIO stock doesn’t stock there. Qin Lihong says that the firm is furthermore transferring forward with plans for even more battery swapping stations. This has the firm estimating for 4,000 of these areas by the time 2025 rolls round, reviews Reuters.

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The announcement from Nio is just a few considerable-wanted factual news for the firm’s stock. Shares of NIO had been down the outdated couple of days as lots of markets suffered alongside the stock market. The electrical vehicle (EV) market used to be among them with Tesla (NASDAQ: TSLA) and Churchill Capital (NYSE: CCIV) furthermore seeing shares drop.

As for the way the announcement is affecting NIO stock on the present time, shopping and selling volume is currently at decent levels. As of this writing, higher than 21 million shares of the stock have modified fingers. That’s a considerable pass toward the firm’s daily moderate shopping and selling volume of about 71 million shares.

NIO stock started off Friday considerable with shares up 2.4% from the day long past by’s terminate. Nonetheless, the stock is now dipping a small bit lower as of later within the morning.

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On the date of publication, William White did not have (either straight or in a roundabout way) any positions within the securities mentioned in this article. The opinions expressed in this article are these of the creator, arena to the InvestorPlace.com Publishing Guidelines.

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