Benzinga | Oct 18, 2021 12:56PM EDT

Why Nio Shares Are Rising

Nio Inc - ADR (NYSE:NIO) shares are trading higher on continued strength following last week's reports suggesting the company said it would be able to double annual production capacity at its Hefei facility in 2022.

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.

Nio has a 52-week high of $66.99 and a 52-week low of $25.46.