NIO Inc. (NYSE: NIO) is a Chinese electric vehicle company that designs, manufactures, and sells smart and connected electric vehicles. NIO was founded in November 2014 by William Li with headquarters in Shanghai, China.
The company trades on the New York Stock Exchange under the ticker NIO after going public in September 2018.
Besides manufacturing electric vehicles, NIO also aims to drive innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. The company also offers electric vehicles parts and provides battery charging services to a global customer base.
NIO also operates under the following divisions:
- NIO Life. NIO Life is the company’s clothing collection in collaboration with Hussein Chalayan.
- NIO Service. NIO Service is the company’s network of service centers.
- NIO Power. NIO Power is a network of battery swap stations, power mobile, power home, and superchargers.
NIO key milestones
On April 9, 2021, NIO announced the production of its 100,000th vehicle, a crossover called the ES8. NIO first made the deliveries for the model on June 28, 2018.
In November 2019, NIO entered into a strategic collaboration with Mobileye, a company that deals in developing vision technology for Advanced Driver Assistance Systems (ADAS) to manufacture highly automated and autonomous vehicles (AV) for consumer markets in China and globally.
On March 24, 2021, NIO completed its two millionth battery swap in the city of Suzhou, having deployed 193 battery swapping stations, 134 supercharging stations, and 327 destination stations across China. The battery swapping ability has been elusive for NIO’s competitors in the EV space.
In 2017, NIO set five records on the track-only EP9 for the fastest lap for an electric-powered car in the Nürburgring Nordschleife, Circuit Paul Ricard, Circuit of the Americas, and Shanghai International Circuit tracks
NIO Inc. FAQs
Does NIO stock pay dividends?
NIO is not currently paying a regular dividend.
How many NIO Inc.’s ordinary shares does one American Depositary Share ("ADS") of the Company represent?
Each ADS of NIO Inc. represents one Class A ordinary share.
What companies work with NIO?
After launch, several companies invested in NIO, including Tencent, Temasek, Sequoia, Lenovo and TPG.
Does the Chinese government own Nio?
NIO put its Chinese business into a new entity and owned up to 76% of the legal entity. The strategic investors including the local government controlled a share of 24%.