NIO Inc. (NYSE:NIO) shares are trading slightly higher on Friday.
The company is making significant strides in its infrastructure and vehicle sales.
Recently, it announced the completion of a major milestone: 3,000 battery swap stations in China, reports CnEV Post.
The 3,000th station went live in Harbin, Heilongjiang province, marking a key development in NIO's push to expand its battery swap network.
The company now operates a total of 3,003 stations across China, including 949 along highways, which play a crucial role in supporting its growing electric vehicle fleet.
In addition to this achievement, NIO reported strong sales numbers for December.
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The company delivered 31,138 vehicles in the month, which represents a 51% increase compared to November and an impressive 72.9% rise from December 2023. A significant portion of these deliveries came from NIO's lower-priced EV brand, Onvo, which launched earlier this year.
Onvo's first model, the L60, began deliveries in late September.
For the full year 2024, NIO achieved a 38.7% year-on-year growth in vehicle deliveries, totaling 221,970 units.
These results showcase NIO's commitment to expanding both its infrastructure and customer base as it continues to grow in the competitive EV market.
According to Benzinga Pro, NIO stock has fallen over 45% in the past year. Investors can gain exposure to the stock via KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS).
Price Action: NIO shares are trading higher by 1.1% to $4.59 at last check Friday.
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