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What’s Happening With Chinese EV Maker Nio’s Stock On Wednesday?

Nio is set to boost its production capacity with the approval for a third factory in China, elevating its annual production capability to nearly 1 million vehicles. This expansion, aimed at competing with Tesla, addresses growing demand for Nio and its new budget brand, Onvo. The factory in Huainan will initially produce 100,000 units, scaling up to 600,000 annually.

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