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Why NIO Stock Is Lower Today

·2 min read
Why NIO Stock Is Lower Today
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Shares of Chinese electric vehicle maker NIO (NYSE: NIO) were trading lower on Monday, on sectorwide weakness after another electric vehicle start-up reported sales well below Wall Street's expectations. As of 2:30 p.m. EDT, NIO's American depositary shares were down about 5.6% from Friday's closing price. The Chinese government has developed new regulatory standards for electric vehicle battery swap stations, and NIO -- which operates one of the country's largest battery swap networks -- helped to write the new regulations.