HK Stock Market Move | NIO-SW (09866) rose more than 4% and entered the market in Azerbaijan, with product deliveries set to begin in the second quarter of next year.

NIO-SW (09866) rose more than 4%, as of the time of writing, up by 4.17% to HK$37.45, with a turnover of HK$23.406 million. On the news front, during the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) held in the capital of Azerbaijan, Baku, NIO signed a strategic partnership agreement with its partner Green Car, announcing the official launch of business in Azerbaijan to provide local users with smart electric vehicle products and services. It is reported that Green Car was established in 2014 and is an Azerbaijani enterprise in the green travel industry, focusing on promoting and integrating electric vehicles and sustainable transportation solutions. According to the agreement, Green Car will become NIO's national distributor in Azerbaijan and will directly serve local users. NIO is set to start product delivery in Azerbaijan in the second quarter of 2025. NIO co-founder and CEO, Li Bin, stated that Azerbaijan is advancing green transformation and sustainable development, with a promising future for the new energy vehicle industry. NIO is willing to actively participate and contribute to the promotion of new energy vehicles in the local market, accelerating its global expansion process.