NIO Inc. (NIO) Climbs 14% on Strong Optimism Ahead for New Vehicle

We recently published 10 Stocks With Eye-Popping Gains Amid Wall Street Cheer. NIO Inc. (NYSE:NIO) is one of the top performers on Friday.

NIO Inc. (NYSE:NIO) saw its share prices climb by 14.44 percent on Friday to close at $6.34 apiece as investors welcomed the unveiling of its budget-friendly SUV called ES8.

In an interview with CNBC, Morningstar analyst Vincent Sun said that the rally can be owed to expectations of a strong demand in the ES8 and the Onvo L90, which was launched earlier.

NIO Inc. (NYSE:NIO) is scheduled to launch the ES8 next month, with a starting price of 308,800 yuan ($43,000) for the battery subscription plan which will allow owners to upgrade batteries through monthly payments.

The new vehicle measures 5,280 mm in length and 3,130 mm in wheelbase, making it the largest battery electric vehicle in China.

The unveiling followed the company’s slower vehicle deliveries in July. During the period, NIO Inc. (NYSE:NIO) delivered 21,017 vehicles last month, higher by 2.5 percent than the 20,498 in the same month last year, but was notably slower than the double-digit year-on-year growth in the past three months.

June deliveries were higher by 17 percent; May was up by 13 percent; while April increased by 53 percent.

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