What's Going On With Chinese EV Maker NIO Stock Today?

Zinger Key Points

NIO Inc. NIO is experiencing a slight increase in its share price in premarket trading on Friday, as the company is reportedly expected to be included in a major Hong Kong stock index.

This inclusion is anticipated to bring passive investment inflows, which could provide a boost to NIO's stock despite its recent performance challenges, reports CnEV Post.

The Hang Seng Indexes Company Limited will announce the results of its semi-annual review of the Hang Seng family of indexes after market hours on February 21, per the report, which cited Chinese brokerage CICC. The changes will take effect on Monday, March 10.

Read Next: BlackRock Generates Industry-Leading ETF Inflows Of $390 Billion In 2024: Here Are Five iShares ETFs That Investors Should Look Out For

The adjustment will include indices such as the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng Tech Index and Hang Seng Composite Index, the report said, citing analyst Liu Gang’s team.

Recently, NIO launched its new affordable EV brand Onvo in May. The brand started selling its first vehicle – the Onvo L60 – in late September and since then, Nio sales have been on the rise.

The Onvo L60 is a mid-size electric SUV that starts at 206,900 yuan (~$28,300) with the battery pack included, much lower than Tesla's affordable models Model 3 or Model Y in China.

In September, NIO delivered 832 Onvo L60s despite having only a few selling days.

In October, the first full month of sales, Onvo deliveries rose to 4,319. In November, deliveries rose to 5,082, implying rising demand for the vehicle.

Price Action: NIO shares are trading higher by 1.2% to $4.21 premarket at last check Friday.

Read Next:

Photo by Sundry Photography on Shutterstock.

NIO Logo
NIONIO Inc
$4.186.36%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
30.41
Growth
52.92
Quality
-
Value
50.24
Price Trend
Short
Medium
Long
Got Questions? Ask
Which Hong Kong indexes will NIO be included in?
How will NIO's inclusion affect investor sentiment?
Which EV companies could face competitive pressure from NIO?
How might passive inflows impact NIO's stock performance?
What other Chinese EV makers could benefit from NIO's success?
Which ETFs might gain from NIO's index inclusion?
How will Onvo L60 sales affect NIO's overall financial health?
What other mid-size SUV models could feel pressure from NIO?
Which investors might be interested in NIO's growth story?
Could NIO's delivery trends signal broader EV market recovery?

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

Market News and Data brought to you by Benzinga APIs

Posted In:
Comments
Loading...