Why NIO Stock Is Trading Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Monday after a report that the company had hired a new leader for its self-driving technology unit.
As of 2:15 p.m. EDT, NIO's American depositary shares were up about 6.1% from Friday's closing price.
TechNode reported that NIO has hired Shaoqing Ren, a computer-vision expert who co-founded Chinese self-driving start-up Momenta, to lead its self-driving development efforts. NIO is an investor in Momenta as is Mercedes-Benz's corporate parent Daimler.
Source Fool.com