NIO Inc. ( NIO ) shares are trading higher in the premarket session on Wednesday.

In November, NIO reportedly added 120 new fourth-generation battery swap stations, bringing the total number of stations to 2,741 by November 30, reported CnEV Post.

Of these, 903 are located along highways, enhancing the convenience of long-distance travel for NIO electric vehicle owners.

The new stations are designed to further strengthen NIO’s battery-swapping network, a key differentiator for the company in the competitive EV market.

In November, NIO completed 2.318 million battery swaps, averaging 77,268 swaps per day.

On average, each NIO user used the battery swap service four times that month, with each swap taking about three minutes, CnEV Post added. NIO said the service saved users 3 hours and 48 minutes per month compared to charging.

Also Read: Okta Q3 Earnings: Revenue Beat, EPS Beat, Strong Guidance, Shares Surge

Apart from China, NIO also made a significant move in its globalization strategy by opening its first NIO House in the Middle East and North Africa (MENA) region. Located on Al Maryah Island in Abu Dhabi, the new showroom spans 970 square meters and showcases NIO’s expansion into the UAE.

NIO House Abu Dhabi serves as a flagship showroom, offering visitors a space to view NIO’s electric vehicles (EVs) and experience the brand’s customer-focused environment.

According to Benzinga Pro, NIO stock has lost over 36% in the past year.

In another development, delivery times for three of NIO’s popular models—ET7, EC7, and ES8—have increased slightly.

For the first time in five months, customers now face a 3-4 week wait, compared to the previous 2-3 week wait, CnEV Post reported.

NIO currently offers a lineup of eight models, with the highly anticipated ET9 expected to begin deliveries in the first quarter of 2025.

Price Action: NIO shares are trading higher by 2.16% to $4.73 premarket at last check Wednesday.

Read Next:

TikTok Shop Bags More Than $100 Million In Black Friday Sales With Potential Ban Ahead