Nio (NYSE:NIO) stock is climbing higher on Monday after the company announced the launch of its new power charging stations.
According to a tweet from the company, it’s set up 10 of its third-generation power charging stations. These are spread across 10 cities in China. The company has plans to bring these power charging stations to more markets throughout 2023.
Nio links to a video in that tweet revealing the launch of its new power charging stations. The video description includes the following statement about the power charging station launch:
“The first batch of 10 third-generation #NIO #PowerSwap Stations has officially opened, bringing with it faster power swaps, larger service capacity, smarter swapping features, and more efficient vehicle-station coordination. Now available starting with 10 cities in China and rolling out in all our markets in 2023. NIO thanks its users for their trust and support as we continue to deploy a recharging experience beyond refueling.”
What This Means for NIO Stock
Investors are celebrating the launch of the new Nio power charging stations today, and the stock is up as a result. With these new stations, Nio is further cementing its strength among electric vehicle (EV) makers in China.
NIO stock is seeing decent trading at the start of the day with some 10 million shares on the move. For the record, the company’s daily average trading volume is closer to 43.8 million shares. NIO stock is also up 5.5% on Monday morning.
Investors looking for more of the latest stock market news will want to stick around!
We’ve got all of the hottest stock market news worth reading about on Monday! Among that is what has shares of Prometheus Biosciences (NASDAQ:RXDX), SAI.TECH Global (NASDAQ:SAI), and XPeng (NASDAQ:XPEV) stock moving today. You can learn more on these matters at the links below!
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- Why Is Xpeng (XPEV) Stock Up 12% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.