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Benzinga
Benzinga
Business
Anusuya Lahiri

Tesla's Chinese Rival Nio Clocks 41% Q2 Deliveries Growth

NIO Tesla Inc. Nio Inc Robert Way electric vehicle
Nio-Photo by Robert Way via Shutterstock

Chinese electric vehicle maker Nio Inc. (NYSE:NIO) stock rose Tuesday after the company reported fiscal third-quarter results.

The company posted quarterly revenue of 21.79 billion Chinese yuan ($3.06 billion), rising 16.7% year-over-year (Y/Y) and 14.7% sequentially, but coming in below the consensus estimate of $3.26 billion.

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