NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. NIO Inc. is a pioneer and a leading company in the premium smart electric vehicle market. Founded in November 2014, the company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017.
NIO has established R&D centers, manufacturing, sales and service facilities in Shanghai, Hefei, Beijing, Nanjing, San Jose, Munich, Oxford, Oslo and other places. Further, the company provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers. It began its global market entry in 2021in Norway. In 2022 it introduced its lineup to four new countries in Europe — Denmark, Germany, the Netherlands and Sweden — along with an innovative subscription-based ownership model. The countries join NIO’s customer base in China and Norway.
The models launching in the European market are all built on the NIO Adam supercomputer, which uses four NVIDIA DRIVE Orin systems-on-a-chip to deliver software-defined AI features.These intelligent capabilities, which will gradually enable automated driving on expressways and urban areas, as well as autonomous parking and battery swap, are just the start of NIO’s fresh take on the vehicle ownership experience. As the automaker expands its footprint, it is emphasizing membership rather than pure ownership. NIO vehicles are available via flexible subscription models.
Nio currently offers five, six, and seven-seater electric vehicles consisting of the ES8, a six- or seven-seater flagship premium smart electric SUV, the ES7 (or the EL7), a mid-large five-seater premium smart electric SUV, the ES6, a five-seater high-performance premium smart electric SUV, the EC6, a five-seater premium smart electric coupe SUV, the ET7, a flagship premium smart electric sedan, and the ET5, a mid-size premium smart electric sedan.
The company is also involved in the provision of energy and service packages to its users; design and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. In addition, it offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Charger, a fast-charging solution; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service, where it offers vehicle pick up, charging, and swapping services.
Securing Lithium
In September 2022 Nio announced it may invest an estimated 600 million yuan ($83.74 million) in Australia-based miner Greenwing Resources Ltd. Which will help it to expand its global footprint, and thereby secure raw material supply for EV batteries. Nio's move came after the price of lithium, surged over 700 percent since the start of 2021, which has led to a surge in battery pack prices.
New Car Deliveries
- NIO delivered 14,178 vehicles in November 2022, increasing by 30.3% year-over-year
- NIO delivered 106,671 vehicles year-to-date 2022, increasing by 31.8% year-over-year
- Cumulative deliveries of NIO vehicles reached 273,741 as of November 30, 2022
2022 Management
Bin Li, Founder, Chairman and Chief Executive Officer
Lihong Qin, Co-founder, Director and President
Feng Shen, Executive Vice President and Chairman of Quality Management Committee
Xin Zhou, Executive Vice President and Chairman of Product Committee
Wei Feng, Chief Financial Officer
Ganesh V. Iyer, Chief Executive Officer of NIO U.S.
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