NIO Inc. ( NIO ) shares are trading higher on Thursday.

The EV behemoth is fueled by several key developments that indicate the electric vehicle (EV) giant is making significant strides in its growth and expansion.

One of the most notable updates is NIO’s accelerated plan to increase the construction of battery swap stations in the coming year, CnEV Post reports. The company’s power business unit, NIO Power, recently celebrated the production of its 100th battery swap station at its plant in Wuhan, Hubei province.

This marks the transition into large-scale mass production at NIO Power’s largest energy product manufacturing site globally, boosting expectations for NIO’s ability to expand its infrastructure quickly.

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NIO has also scored a significant legal victory in its dispute with Audi over trademark rights in Australia, CNeV Post reports.

The Australian intellectual property authorities ruled in favor of NIO, allowing the company to move forward with its application to register the ES6, ES7, and ES8 trademarks.

This ruling marks a major milestone in NIO’s efforts to secure its intellectual property globally, with the battle with Audi now spreading to more territories, according to the report.

In its push for international growth, NIO recently opened its first NIO House in the Middle East and North Africa region. Located in Abu Dhabi on Al Maryah Island, the flagship showroom spans 970 square meters and offers an immersive experience for potential customers in the UAE, highlighting NIO’s commitment to expanding its presence in the region.

Despite these advancements, NIO has faced challenges, with its stock dropping over 36% in the past year.

Price Action: NIO shares are trading higher by 1% to $4.65 at last check Thursday.

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