What's Going On With NIO Shares Today?

NIO Inc. NIO shares are trading lower by over 2% in the premarket session on Wednesday.

Shares started trading downward after ending yesterday’s session with over 12% gain. Today, the company announced James Gordon Mitchell has resigned as a director.

“James Gordon Mitchell’s extensive experience has been highly valuable to the Company during his tenure,” NIO said.

The company also announced that Eddy Georges Skaf and Nicholas Paul Collins have been appointed as new directors, effective immediately.

Skaf has held the position of chief investment officer at CYVN Holdings L.L.C since May 2023.

NIO delivered 10,055 vehicles in January 2024, increasing by 18.2% year-over-year. Cumulative deliveries of NIO vehicles reached 459,649 as of January 31, 2024.

The company said in a recent press release that January deliveries comprised 6,307 premium smart electric SUVs and 3,748 premium smart electric sedans.

 In January 2024, NIO signed strategic partnership agreements with JAC Group and Chery Automobile on battery swapping, following the previously announced cooperation with Changan Automoile and Geely Group.

Moving forward, NIO expects to join hands with more partners to collectively contribute towards the development of power network and the wider adoption of battery swapping.

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Price Action: NIO shares are trading lower by 2.65% to $5.87 premarket on the last check Wednesday.

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