- The stock price of NIO Inc (NYSE: NIO) decreased 5.06% as it went from $37.71 to a day low of $35.80. This is why it happened.
The stock price of Nio Inc (NYSE: NIO) decreased 5.06% as it went from $37.71 to a day low of $35.80. NIO is not the only EV company that is seeing a stock price drop as both Tesla and Fisker fell over 2% during intraday trading today as well.
But NIO made a major announcement today as well. During a news conference today, NIO said that it is expecting to Norway. Norway has some major subsidies for EVs as it can be as high as one-third of the purchase price. And EV owners also see benefits like discounts for parking and tolls.
NIO’s first deliveries for Norway is scheduled for September and the ES8 SUV will be the first to be offered. Next year, NIO will start selling the ET7 sedan next year.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
