Nio (NYSE: NIO) shares have been soaring this week. China has a plan for accelerating growth, and the electric vehicle (EV) maker could be one big beneficiary. But even prior to China’s economic stimulus making an impact, there are signs that Nio’s business is getting in better shape.
Investors recognized that this week and pushed Nio shares up by about 24% as of late morning Friday, according to data provided by S&P Global Market Intelligence.
Green shoots for EV demand
U.S.-listed Chinese stocks got a big boost this week when China’s central bank eased monetary policy and provided fiscal support for businesses and consumers. Steps taken to increase lending, support the real estate market, and provide homeowners more spending money should give the strong EV market even more of a tailwind.
Chinese consumers will get a break on existing mortgages and those savings might be spent on the
