Why Nio Stock Is On Fire Today
Shares of electric vehicle (EV) company Nio (NYSE: NIO) fired up on Tuesday and were up 3% as of 12:10 p.m. ET before popping nearly 6.6% right after market open.
There's a lot happening behind the scenes at Nio not many are aware of: Nio's big day is coming up next week, it just inked a partnership that's not made it to the headlines yet, and there's a rumor floating about Nio's second listing. Here's everything you need to know.
Let's start with the partnership: One of the world's leading car leasing companies, LeasePlan, revealed it had signed a partnership with Nio to offer its flagship SUV, ES8, in Norway. Investors may remember that Nio first announced its official entry into Norway in late September with its first ES8 delivery, but its deal with LeasePlan is the first of its kind for the EV manufacturer in Europe. LeasePlan has nearly 1.8 million vehicles across 29 countries and is committed to achieving net-zero emissions from is fleet by 2030.
Source Fool.com
