$NIO (NIO) Stock: Why The Price Increased Over 3.8%

The stock price of NIO Inc (NYSE: NIO) increased by over 2.8% during intraday trading. This is why.

The stock price of NIO Inc (NYSE: NIO) increased by over 2.8% during intraday trading. Investors are responding positively to the company’s April 2022 delivery update.

NIO had delivered 5,074 vehicles in April 2022 and the company delivered 30,842 vehicles year-to-date in 2022, increasing by 13.5% year-over-year. And the cumulative deliveries of vehicles as of April 30, 2022 reached 197,912

The deliveries consisted of 4,381 premium smart electric SUVs, including 1,251 ES8s, 1,878 ES6s and 1,252 EC6s, and 693 ET7s (the company’s flagship premium smart electric sedan).

In late March and April 2022, NIO’s vehicle production and delivery have been impacted by the supply chain volatilities and other constraints caused by a new wave of the COVID-19 outbreaks in certain regions in China. And the vehicle production has been recovering gradually. NIO will closely monitor the situation and its impact to the Company’s business and financial conditions and continue to work with its supply chain partners to accelerate the recovery of production to its full capacity.

On April 29, 2022, NIO’s first batch of tooling trial builds of the ET5 rolled off the production line at the new manufacturing plant at NeoPark in Hefei. And NIO expects to start delivery of the ET5 in September 2022.

In April 2022, NIO joined hands with the World Wide Fund for Nature in Clean Parks, an ecosystem co-construction initiative launched by the company in 2021. And the two parties will jointly establish a clean and low-carbon energy circulation system in national parks and nature reserves.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.