Why Nio Stock Is Trading Higher Today

Nio Inc NIO shares are trading higher Monday after the company said operations have returned to pre-COVID levels. 

According to a CnEVpost report, citing an article posted on Nio's mobile application, the EV maker has resumed operations in 61 battery swap stations and 94 charging stations in Shanghai, which recently lifted COVID-19 lockdown measures. 

The article indicates that the overall operations in Nio’s facilities have largely returned to pre-COVID levels. Nio did not immediately respond to Benzinga’s request for comment.

Related Link: Nio Shanghai Operation Reportedly Swings Back To Pre-COVID Levels

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.

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

The stock was up 5.09% at $18.999 at press time, according to data from Benzinga Pro.

Photo: courtesy of Nio.