Why Nio Stock Is Rising Today

NIO Inc NIO shares are trading higher Friday after the company provided a delivery update for June, as well as the second quarter. 

Nio said it delivered 12,961 vehicles in June, an increase of 60.3% year-over-year.  June deliveries consisted of 1,684 ES8s, 5,100 ES6s, 1,828 EC6s and 4,349 ET7s.

In the second quarter, Nio delivered 25,059 vehicles, an increase of 14.4% year-over-year. Cumulative deliveries reached 217,897 as of June 30.

Nio also announced that it expects to begin deliveries of its ES7, as well as the 2022 versions of the ES8, ES6 and EC6 in August. 

Nio operates in China's premium electric vehicle market. The company designs, jointly manufactures and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.

See Also: NIO Shares Gain As June Deliveries Jump By Over 60% Reflecting Recovery

NIO Price Action: Nio has traded between $55.13 and $11.67 over a 52-week period.

The stock was up 2.07% at $22.17 at press time, according to data from Benzinga Pro.

Photo: courtesy of Nio.