Chinese electric vehicle (EV) maker. New (NYSE: NEO) It recently announced another strong month of vehicle deliveries. Last week’s announcement helped push Nio shares higher. But other news related to its local market and its latest luxury electric cars are attracting more investors today.
Nio shares are up nearly 20% so far in December. That includes an 11.8% jump today, as of 10:30 a.m. ET.
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Today’s push came after Chinese government leaders promised to implement a “more proactive” fiscal policy next year as well as a more flexible monetary policy to help boost domestic consumption. This bodes well for Nio as it hopes to reach another level of electric vehicle unit sales.
Meanwhile, Nio announced that China’s Ministry of Industry and Information Technology (MIIT) has approved Nio’s flagship executive sedan to be the first mass-produced vehicle in China to feature steer-by-wire technology.
November was the seventh straight month in which Nio delivered more than 20,000 Electric vehicles.
This comes as Nio prepares to begin sales of the ET9 luxury sedan in the first quarter of 2025. This flagship model targets executive-level buyers with a starting price equivalent to more than $110,000. One of the features of the ET9 is the steer-by-wire system that provides an enhanced control and ride experience for the rider. It will now become the first mass-produced model equipped with this technology after approval from the Ministry of Industry and Technology.
Separately, over the weekend, Chinese officials said this was moving forward Monetary policy It will be “fairly loose.” This is a change from its previous position and could help motivate Chinese consumers to buy new electric cars.
This combination of news has investors more optimistic about Nio’s prospects for further sales growth in 2025.
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