Why Nio Stock Is Down Today

Lou Whiteman, The Motley Fool

August 18, 2022 at 3:18 p.m.·2 min read

A drought in China's Sichuan province is straining local electric grids and threatening both electric vehicle (EV) charging stations and suppliers based in the region. Shares of Nio (NYSE: NIO) fell as much as 3% on Thursday on concerns about how the issue could ripple through the country's automotive industry. Nio is one of the Chinese electric vehicle market's top success stories, both in terms of selling automobiles in China and Europe and building a strong brand in its home country.

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