Why NIO Stock Is Higher Today

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Shares of Chinese electric-vehicle NIO (NYSE: NIO) were moving higher on Monday, after a report that its CEO confirmed plans to enter the European market later this year. 

As of 10:15 a.m. EST, NIO’s American depositary shares were up about 7.7% from Friday’s closing price.

NIO CEO William Bin Li said that NIO plans to begin selling vehicles in Europe in the second half of 2021, according to a report from Chinese media outlet Bitauto.com. The company plans to enter other global markets next year, according to the report.

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