(May 11) NIO is up 0.26%, it was down over 4% earlier.
Related: Don’t Look Now, but Nio Stock Is Becoming an Investment Not a Trade
Tesla dipped about 1%. Of note today, Tesla has halted plans to buy land to expand its Shanghai plant and now intends to limit the proportion of total output that comes from China, sources told Reuters. By the books, Tesla only sold 25,845 vehicles made in China during April, down from 35,478 units in March. China's Passenger Car Association reported total passenger car sales were down a disappointing 8.3% M/M in April to 1.61M units. The tally was still 12.4% higher than last year's mark.
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