EV maker delivers more than 5,000 vehicles in October, a monthly record
Shares of Nio Inc. soared toward a record Monday, after the China-based electrical vehicle maker reported October deliveries that doubled to a monthly record of more than 5,000 vehicles.
The stock (NIO) shot up 12.3% in active premarket trading, putting them on track to open well-above the Oct. 29 record close of $31.99.
Nio reported overnight that it delivered 5,055 vehicles in October, up 100.1% from the same period a year ago, and a new monthly record.
The deliveries included 2,695 of its 5-seater premium smart electric sport utility vehicle (SUV), the ES6, and 1,477 of its 6-seater and 7-seater flagship premium smart electric SUV, the ES8.
The company also delivered 883 of its 5-seater electric coupe SUV, the EC6.
So far in 2020, Nio has delivered 31,430 vehicles, up 111.4% from the same period a year ago.
Nio's stock has skyrocketed 660.7% year to date through Friday. In comparison, shares of U.S.-based rival Tesla Inc. (TSLA) have run up 363.8%, while the iShares MSCI China exchange-traded fund (MCHI) has climbed 21.3% and the S&P 500 index has gained 1.2%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 02, 2020 08:41 ET (13:41 GMT)
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