Benzinga | Dec 1, 2021 08:51AM EST

Why Nio Shares Are Rising Today

NIO Inc (NYSE:NIO) is trading higher Wednesday after the company announced its November delivery numbers.

Nio reported delivering 10,878 vehicles in November, representing a 105.6% increase year-over-year. The deliveries consisted of 2,683 ES8s, 4,713 ES6s and 3,482 EC6s.

Nio announced that it has delivered 80,940 vehicles year-to-date, representing an increase of 120.4% year-over-year. Cumulative deliveries of the ES8, ES6 and EC6 reached 156,581 vehicles at the end of November.

See Also: Li Auto Tops Rival Nio In November, Posting Record Monthly Deliveries At 13,485 EVs

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 Price Action: Nio has traded as high as $66.99 and as low as $30.71 over a 52-week period.

The stock was up 3.60% at $40.54 at time of publication.

Photo: courtesy of Nio.