Nio climbs following a more than 60% jump in weekly registrations in China
A host of new Model Y competitors appear to be paying off for Chinese EV maker Nio.
Shares of the company rose more than 5% in Tuesday morning trading, following reports that the company last week logged a record 10,800 vehicle insurance registrations in China, a common proxy for vehicle deliveries.
The figure, which would represent a 62% jump in registrations week over week, was reportedly shared by a Nio executive on Chinese social media. Nio is said to have delivered more than 2,000 of its new three-row electric SUV, the ES8, and 2,600 Onvo L90s (another SUV) in the week ended September 28.