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