Nio (NYSE: NIO) is stepping into the augmented reality (AR) field after officially launching the NIO Air AR Glasses on September 5, jointly developed with the AR company Nreal.
This announcement was initially released by Nio through their mobile app as a pre-order of a limited quantity through the NIO Life online store, with delivery expected to commence next month, according to a CnEVPost.
These new AR glasses will go hand in hand with the panoramic digital cockpit PanoCinema initially announced by the founder, William Li, back in 2021.
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Currently, Nio offers 260 Dolby Atmos-enabled movies, 200 3D movies, and is looking to offer more PanoCinema-exclusive audiovisual content in the near future. The AR glasses are one of the cores of NIO’s PanoCinema with Nreal building them for a car company for the first time. Owners of Nio ET7 and ES7 will be able to utilize this new technology after they replace a USB chip in their vehicles.
NIO chart and analysis
Despite being in the news fairly often recently, both the long and short-term trends are negative, as the stock traded between $17.71 and $21.97 over the past month. Prices have been falling strongly lately, so the price action closed below all moving averages.
Technical analysis also indicates a resistance zone from $19.70 to $20.08 and a support line at $15.99.
TipRanks analysts rate NIO shares a ‘strong buy, seeing the average price in the next 12 months reaching $32.44, 82.97% higher than the current trading price of $17.73. Equally important, out of 11 TipRanks analysts all 11 have a buy rating with no hold or sell ratings for the shares.
Technological breakthrough
Nio seems to be pushing the envelope of innovation in the car industry by introducing in-car cinemas and now AR glasses, that could be used in the future to browse the web, make additional purchases through the Nio store and finally allow Nio to upsell more, and develop new business models for the benefit of shareholders.
This new technology, if upsell does occur, will have the ability to produce new revenue streams and get users hooked into the Nio ecosystem. Needless to say, more sales will mean more revenue and a boost in the stock price.
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