U.S.-listed shares of Chinese electric car maker Nio Inc. NIO, 3.17% are up more than 6% in premarket trading Thursday after the company reported its May delivery numbers.
Niobium’s delivered 3,436 vehicles in the month, up 215.5% from a year earlier. The company saw deliveries of 2,685 ES6 cars, Nio’s 5-seater smart utility vehicle, and 751 ES8s, its 7-seater SUV and 6-seater variant. Chief Executive William Bin Li said in a release that the May deliveries marked a record high on a monthly basis. Chief Financial Officer Steven Feng said in the release that Nio is on track to meet its second-quarter delivery goals. Nio’s shares have added 68% over the past month as the S&P 500 SPX, -0.32% gained about 10%. The stock got a bullish upgrade from Goldman Sachs Wednesday.