What happened
Shares of Chinese electric-vehicle maker NIO (NIO 2.30%) jumped on Wednesday after the company reported strong sales totals for April and said that its business is now fully up and running following the coronavirus outbreak.
NIO's American depositary shares ended the day at $3.62, up about 10.4% from Tuesday's closing price.
So what
NIO released its April sales totals before the market opened on Wednesday, and they were good: The company delivered 3,155 vehicles in April, more than double its year-ago total and its best result since December.
Sales of NIO's ES6 were very strong in April. Image source: NIO.
In a statement, CEO William Bin Li said that NIO's production and delivery capabilities had largely recovered from the disruptions caused by the outbreak of the COVID-19 virus in China earlier this year. He said that the company is now looking forward, with strong sales momentum now that its stores have reopened.
Now what
NIO said in late April that it has secured 7 billion Chinese yuan (about $985 million) in new financing from economic-development authorities in China's Anhui province. But while it outlined the deal, there are several important questions it has yet to answer, including a big one: What happens to NIO's debt?
Auto investors are looking forward to NIO's 20-F filing (similar to a U.S. company's 10-K) to learn more.
