What came about
Shares of Chinese electric-vehicle maker NIO (NYSE:NIO) had been Trading decrease on Wednesday, amid wide market turbulence affecting shares of many electric vehicle makers and diversified rising technology companies.
As of 10: 30 a.m. EDT, NIO’s American depositary shares had been down about 4.8% from Tuesday’s closing tag.
There became as soon as no fundamental info using NIO’s shares decrease — or fundamental info of any kind that became as soon as directly linked to NIO or its stock. The company did share some minor info, however it appears to be like to make sure: As of three: 16 a.m. local time, a NIO battery-swap space in Suzhou (proper west of Shanghai) carried out the corporate’s 2 millionth battery swap.
NIO acknowledged that its network of over 200 battery-swap stations — which robotically swap a NIO’s battery pack for a fully charged one — now total a swap about as soon as each and each 10 seconds, on moderate.
Or now now not it is far now now not enormous info, and it is with out a doubt now now not what’s transferring the stock today. But now .
NIO expects to initiate deploying an updated model of its automated battery-swap stations subsequent month. Image offer: NIO.
That seconds-between-battery-swaps number could possibly possibly additionally successfully fall over the next plenty of months, as NIO begins deploying its unique “2nd-era” battery-swap stations. The unique stations can store more battery packs and total swaps more posthaste than the hot devices, and they tag much less to produce, NIO acknowledged earlier this month.
NIO confirmed on Wednesday that it expects the principle of those 2nd-era stations to be up and working in mid-April.
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John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends NIO Inc. The Motley Fool has a disclosure policy.”>