Nio’s U.S.-listed stock shot up toward another double-digit gain on Monday, after a disclosure of a new big investment and a continued surge in China’s stock market fueled the rally.

Chinese electric vehicle maker NIO is getting new investment and its shares surged Monday. EV shares have had a bumpy year as demand cooled for the vehicles and China’s economy struggled to recover from a prolonged property slump.

Nio's investment plan comes to the public at a time when intense domestic competition and overseas tariffs have muddied the EV sector’s outlook despite China's heavy investment in electric vehicles.

Nio ( NIO 12.80%) shares have been soaring this week. China has a plan for accelerating growth, and the electric vehicle (EV) maker could be one big beneficiary. But even prior to China's economic stimulus making an impact, there are signs that Nio's business is getting in better shape.