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Benzinga
Benzinga
Business
Anusuya Lahiri

Nio Lifts Deliveries Outlook As CEO Hints At SUV Market Shakeup

NIO SUV Robert Way electric vehicle
Nio-Photo by Robert Way via Shutterstock

Chinese electric vehicle maker Nio (NYSE:NIO) shares were trading lower in premarket on Tuesday after the company reported fiscal second-quarter results, but the stock has since reversed losses and is now trading higher by 1.72%.

The company reported quarterly revenue of 19.01 billion Chinese yuan ($2.65 billion), up 9.0% year-over-year (Y/Y). The revenue grew by 57.9% sequentially.

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