Nio (NYSE: NIO) stock surged this morning and had shot up 8.9% as of 10 a.m. ET as investors lapped up the latest delivery numbers from the electric vehicle (EV) maker, which seem to put to rest some of the market’s major concerns. This morning, Nio reported it delivered 7,024 EVs in May, which was up 38% from April and just about 5% year over year. Nio confirmed its production picked up pace in May after a shutdown, and said it plans to ramp up production and deliveries even further in June.