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Anushka Dutta

DARK SECRETS: Nio is up on china s support measures but does it make the stock a buy | Vintage Vibes

NIO China Nio Inc Auto Vehicle Manufacturers

Automaker NIO Inc. (NIO) is a manufacturer and seller of smart electric vehicles (EVs) in China. The Shanghai, China-based company offers electric SUVs and smart electric sedans and provides energy and service packages to customers.

NIO’s stock rebounded strongly last week on the backs of China’s Commerce Ministry announcing “a raft of new steps to spur consumer demand for cars.” The ministry stated that it is considering an extended tax break for electric vehicles and plans to build more charging stations. However, COVID-19 cases are once again on the rise in the country, which might cause production disruptions again.

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