NIO Inc. (NYSE:NIO) shares are trading higher following a report suggesting the company now expects to have 700 battery swap stations by the end of the year, which is 200 more than the previous estimate and 4,000 battery swapping stations operating globally by 2025 with 1,000 of them in overseas markets.
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’s stock was trading about 2.8% higher at $46.88 on Friday at the time of publication. The stock has a 52-week high of $66.99 and a 52-week low of $10.46.
