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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 moving higher on Monday, after the company said it will hold a "NIO Power Day" event next month. "NIO Power" is the company's name for its suite of vehicle-recharging products and services.

As of 11 a.m. EDT, NIO's American depositary shares were up about 6.7% from Friday's closing price.

Chinese electric-vehicle news outlet CnEVPost reported that NIO has begun inviting China-based journalists to NIO Power Day on July 9. The NIO Power "service," as the company calls it, includes NIO's charging network, its fast-growing network of battery-swap stations, and related services including home chargers and "mobile charging cars" that can assist stranded NIO owners.

Source Fool.com

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