Why Nio Shares Are Starting the Year Moving Higher
The American depositary shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) started off 2022 with a pop. The shares gained nearly 7% on the heels of the release of December delivery numbers by the company as well as its competitors. That early rise settled back to a gain of 3.6% as of 10:32 a.m. ET.
Nio reported 10,489 vehicle deliveries in December 2021, representing a jump of 50% compared to the prior-year period. For the full year 2021, Nio delivered more than 90,000 electric vehicles, which was 109% more than the company shipped in 2020. And its peers also reported strong numbers, showing that demand continues to grow.
Source Fool.com
