NIO Inc. (NYSE:NIO) stock surged by 14.44% on Friday to $6.34 per share after unveiling its budget-friendly SUV ES8. Analysts credit the rally to high expectations for ES8 and Onvo L90 demand. ES8 launches next month starting at 308,800 yuan with battery subscription plans for monthly upgrades.

NIO Inc. (NIO) recently announced the largest battery electric vehicle in China, measuring 5,280 mm in length and 3,130 mm in wheelbase. Despite slower July deliveries, NIO delivered 21,017 vehicles, up 2.5% YoY. Prior months saw double-digit growth: June up 17%, May up 13%, and April up 53%.

Read more at Yahoo Finance: NIO Inc. (NIO) Climbs 14% on Strong Optimism Ahead for New Vehicle