Benzinga

Why NIO Shares Are Rising

NIO Inc. (NYSE: NIO) shares are trading higher following reports suggesting the company said it would be able to double annual production capacity at its Hefei facility in 2022. According to a CnEVPost report, NIO said the upgrade is for the start of production of new models, including the ET7. The current annual production capacity is 120,000 units per year, and will reach 240,000 units per year after the overall upgrade is completed. Following all the expansion work and with extra operating sh

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