NIO's growth is driven by increasing vehicle deliveries, battery-as-a-service plans, and international expansion. Read why NIO stock is a Buy.

Nio’s U.S.-listed stock shot up toward another double-digit gain on Monday, after a disclosure of a new big investment and a continued surge in China’s stock market fueled the rally.

Chinese electric vehicle maker NIO is getting new investment and its shares surged Monday. EV shares have had a bumpy year as demand cooled for the vehicles and China’s economy struggled to recover from a prolonged property slump.

Nio (NYSE: NIO) shares are down almost 30% so far this year. But anyone who bought stock in the Chinese electric vehicle (EV) maker more recently has done quite well. Nio shares have soared by more than 65% over the past month.

Nio (NYSE:NIO) investors have faced plenty of challenges in recent years, but recently, the tide has shifted. In the past month alone, the stock