Why NIO Stock Is Trading Higher Today

Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Thursday after the company said that it had hit a key production milestone. As of 12:25 p.m. EDT, NIO's American depositary shares were up by about 10.6% from Wednesday's closing price.

NIO said that its 5,000th vehicle of the month rolled off the production line on Thursday, marking the first time that the company has manufactured more than 5,000 vehicles in one month. The achievement comes after the automaker made some upgrades to its production line during the third quarter. 

Workers paused to celebrate NIO's production milestone on Thursday. Image source: NIO.

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Source Fool.com