Shares of Nio soar more than 20% as EV deliveries more than double in April

- Nio's stock soared over 20% after reporting a 134.6% year-over-year increase in EV deliveries in April - Nio delivered 15,620 vehicles, including smart electric SUVs and sedans - Competitors Li Auto, Xpeng, and BYD also reported April deliveries, with Li Auto being the only company to have lower sales - Chinese EV makers are engaging in a price war with Tesla as competition heats up in China - Xiaomi recently entered the EV market with a cheaper electric car option compared to Tesla's Model 3, claiming a longer driving range and better-than-expected sales of their new EV