What's Going On With NIO Shares On Friday?

NIO Inc. NIO shares are trading slightly lower on Friday. 

The Chinese EV manufacturer published a notice to announce that it will hold an annual general meeting of shareholders on June 25, 2024. The company will publish its first-quarter results on June 6. 

The company is currently in the headlines for adding a new NIO House in the Netherlands as it moves ahead with efforts to expand in Europe.

The NIO House, NIO’s largest in Europe so far, spans eight floors and covers a total area of 2,768 square meters, CnEV Post reported. In contrast, NIO Houses in China typically consist of only two floors.

Following the Rotterdam opening on March 23, 2023, the NIO House in the Netherlands becomes NIO’s second establishment in the country.

In the past year, NIO expanded with smaller centers in Europe, like those in the Netherlands and Denmark, according to CnEV Post. Now, it’s shifting its service system, including battery swap stations, to Europe.

In 2022, NIO established its first overseas plant, the NIO Power Europe Plant in Hungary, manufacturing battery swap stations. Currently, NIO operates 43 swap stations in Europe, notably 15 in Germany, compared to 2,420 in China, the report noted.

Price Action: NIO shares are trading lower by 0.31% to $4.785 at last check Friday. 

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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