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Why NIO Stock Is Up Today

TheMotleyFool

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Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Monday after the company said that it doesn't expect its growth plans to be affected by a looming shortage of automotive semiconductor components.

As of 2 p.m. EST, NIO's American depositary shares were up about 4.8% from Friday's closing price.

A senior NIO executive told reporters from China's Financial Associated Press that the company has been prepared for a looming shortage of automotive semiconductor components, and that the shortage will have "no impact for the time being" on NIO's plans to expand production amid high demand.

Source Fool.com

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