Provided by
Dow Jones
By Stephen Nakrosis
The American depository receipts of electric-vehicle maker NIO Inc. are trading higher on the New York Stock Exchange on Monday, after the company said it renewed two manufacturing agreements in China.
At 1:47 p.m. ET, the company's ADRs were up by about 5.9%, at $36.04. Volume at the time topped 46.9 million shares. The ADRs' 65-day average volume is some 94.5 million.
On Monday, NIO said it entered into a manufacturing agreement with state-owned Jianghuai Automobile Group Co., or JAC, which currently manufactures NIO vehicles. As part of the deal, JAC will expand its annual production capacity to meet growing demand for NIO vehicles, the company said.