What's Going On With NIO Stock Today?

NIO Inc. NIO shares are trading higher on Friday.

The Chinese EV maker announced that it will report its unaudited financial results for the second quarter of 2024 on Thursday, September 5, 2024, before the opening of the U.S. markets.

The company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time. The street view for NIO’s earnings per share stands at a $(0.31) loss, with sales of $2.42 billion.

Meanwhile, Chinese electric vehicle stocks soared after China slammed the European Union import tariffs on the EV industry and assured support for the industry.

The EU slapped the additional tariffs on the existing duties of 10% on BEV imports, CNBC reports.

Also Read: Chinese Luxury EV Company Zeekr Clocks 100% Growth in Q2 Deliveries, Margin Boost Amid Domestic Price War, Tariffs

Earlier this week, NIO showcased its infrastructure advancements and future strategies at the Power Up 2024 event held in Wuhan, Hubei province, central China.

The electric vehicle (EV) manufacturer introduced its Power Up Counties program, aiming to expand its charging network to cover every county-level administrative region in China by June 30, 2025, reported CnEV Post.

Nio plans to extend its battery swap station network to encompass all over 2,300 counties across 27 provincial-level administrative regions by December 31, 2025.

Price Action: NIO shares are trading higher by 2.76% to $4.10 at last check Friday.

Photo via Shutterstock

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