Nio Shares Rally on Chinese EV Maker’s First-Ever Profit

Chinese electric-vehicle maker Nio Inc. reported its first-ever quarterly profit, reaching a milestone that follows a decade of cash burn and lifting the company’s listed shares.

The Shanghai-based automaker on Tuesday reported profit from operations of 807.3 million yuan ($115 million) for the December quarter, marking a stark contrast to the 6 billion yuan loss recorded a year earlier.