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Neo shares surges after it surpassed quarterly target

Oct 16, 2018 by The Passage Team
Neo shares surges after it surpassed quarterly target

Shares of Nio, commonly referred to as the Tesla of China, surged as much as 8% early Monday after the company said its quarterly deliveries topped its own target.

The Tencent-backed EV maker announced that it has delivered 3,268 ES8 vehicles, its first volume-manufactured vehicle, in the third quarter, 9% exceeding its own target of 2,900 to 3,000 vehicles.

Listed on the New York Stock Exchange in September, the company ensured that is still on track to hit the target of delivering 10,000 vehicles for the second half of 2018, despite the production line being shut down for 10 days for routine maintenance.

Source: Business Insider

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