Nio Stock Is Trading Higher: What's Going On?

NIO Inc NIO shares are trading higher Tuesday after the company reported vehicle delivery numbers for December. 

What Happened: Nio said it delivered 15,815 vehicles last month, representing an increase of 50.8% year-over-year. In the three month period ended in December, Nio delivered 40,052 vehicles, representing a 60% increase year-over-year. 

Nio delivered a total of 122,486 vehicles in 2022, up 34% year-over-year. Cumulative deliveries grew to 289,556 as of the end of December. 

Related Link: Tesla, Nio And 3 Stocks To Watch Today

Nio said it has deployed 1,315 Power Swap stations, 1,228 Power Charger stations with 6,225 chargers and 1,058 destination charging stations with 7,159 chargers worldwide. 

On Dec. 28, the company was awarded the 2022 China Society of Automotive Engineers Science and Technology Award for its battery swapping technologies and applications.

Nio is a China-based company that operates in the premium smart electric vehicle market.

See Also: Nio, Li Auto Clock Record December Deliveries, XPeng's Sales Rebound

NIO Price Action: Nio has a 52-week high of $33.80 and a 52-week low of $8.38.

Nio shares are up 3.59% at $10.10 at time of publication, according to Benzinga Pro.

Photo: courtesy of Nio.