NIO Stock Rises on Upcoming Firefly EV Brand Announcement

Nov 01, 2024

NIO Inc. (NIO, Financial) saw its stock rise by 1.96% to $5.20 in pre-market trading. The increase comes amidst reports about NIO's upcoming third brand, Firefly, which is expected to launch during NIO Day 2024. Contrary to earlier speculations about hybrid technology, NIO's President, Qin Lihong, confirmed that Firefly will maintain the company's commitment to fully electric vehicles using rechargeable and upgradable technology.

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