NIO stocks Price Today (NIO)
2022.12.29 10:12
Nio Inc. is a Chinese multinational automaker with a Shanghai headquarters that focuses on the design and development of electric vehicles. As an alternative to standard charging stations, the company creates battery-swapping stations for its vehicles. Investors have contributed more than $5 billion to the business. Nio intends to expand to 25 distinct nations and regions by 2025.
Tencent, Temasek, Sequoia, Lenovo, and TPG all made investments in Nio following the brand’s debut in the Saatchi Gallery in London in 2016. On the same day that the company was established, the Nio EP9 sports car became available for sale.
As part of its autonomous vehicle program, Nio announced in October 2016 that it had been granted an “Autonomous Vehicle Testing Permit” by the California DMV and would begin testing on public roads in accordance with the “Autonomous Vehicle Tester Program” guidelines. The company said that it planned to introduce autonomous vehicles at levels three and four.
The “Power Swap Station,” Nio’s first battery swap facility, opened in the Nanshan District of Shenzhen, Guangdong, China, in May 2018. From this station, only ES8-car batteries would be available.
The company made a New York Stock Exchange application in September 2018 for an initial public offering of 1.8 billion US dollars.
Due to Nio’s difficulty selling its vehicles, the company needed approximately US$1 billion in new funding from a group of Chinese investors, which it announced in late April 2020. Nio would transfer assets to a new subsidiary with a Hefei headquarters called Nio China as part of the deal.
