Stock Alert: NIO Rises 6%

Shares of Chinese electric vehicle maker NIO Limited (NIO) are rising more than 6% Monday morning and touched a new high of $66.99.

Saturday, the company launched its first sedan model, ET7 at a ceremony in the the western city of Chengdu.

“We will continuously invest in products and technologies, and speed up the development of our service network, thereby bringing a better experience of smart electric vehicles to users,” NIO founder and chief executive William Li Bin said during the launch.

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