Kelsey Cheng is a journalist with a passion for covering China’s booming economy, bustling business sector, emerging tech scene, and the occasional quirky, offbeat story. Her previous bylines include The Daily Mail, Channel NewsAsia, China Daily, and Reuters. Kelsey is also the Content Manager at Ladies Who Tech, a China-based NGO that advocates for gender equality and women advancement in STEM.

Shares of Chinese electric vehicle (EV) company Nio jumped as much as 14% on Monday, propelling the carmaker to a market valuation of more than $100 billion, making the start-up the third most-valued automaker after Tesla and Toyota. Monday’s gains followed the success of the company’s annual Nio Day over the weekend, when it announced…