Why Nio Stock Is Rising Today

NIO Inc NIO shares are trading higher Wednesday amid its virtual product launch event featuring the company's new ES7 SUV.

The Nio ES7 offers superior driving performance, increased visual appeal and an overall luxury experience. The SUV comes with Nio's Digital System product, which includes a smart hardware and computing platform. The ES7 will also feature the latest autonomous driving package from Nio.

The ES7 pricing starts at 468,000 yuan ($69,700) for 75-kWh battery capacity. The 100-kWh battery model is priced at 526,000 yuan. 

Nio has started accepting preorders for the SUV on the company's app. Deliveries are expected to begin at the end of August.

Nio also unveiled upgraded vehicle models for 2022, featuring a digital cockpit controller, sensor hardware, enhanced computing and sensing capabilities and greater flexibility for future functions.

Related Link: Nio Premieres ES7 SUV, Revamped 2022 Models: What EV Investors Need To Know

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

The stock was up 4.49% at $19.51 at press time, according to data from Benzinga Pro.

Photo: courtesy of Nio.