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NIO Slips After Announcing Suspension Of EV Vehicle Production

NIO Inc. (NIO) shares are sliding more than 6 percent on Monday morning trade after the electric vehicle maker said it plans to stop production in view of the continuing lockdowns in China due to the spread of the pandemic. There might be a delay in the delivery of EV vehicles.

Currently, shares are at $18.91, up 6 percent from the previous close of $20.00 on a volume of 25,938,760. For the 52-week period, the shares have traded in a range of $13.01-$55.13 on average volume of 72,370,352.

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