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Nio Inc.
Nio Inc. (Chinese: 蔚来; pinyin: Wèilái; stylized as NIO) is a Chinese electric vehicle manufacturer headquartered in Shanghai. Founded in 2014, it adopted its current name in 2016. The company designs and sells electric vehicles, including sedans and SUVs, and has expanded into smartphone development.
In 2018, Nio filed for an initial public offering on the New York Stock Exchange. It collaborates with the government-licensed vehicle manufacturer JAC Group to operate two production plants in Hefei, Anhui, China.
Nio operates more than 1,300 battery swapping stations in China (as of 2022). The company develops semi-autonomous and autonomous vehicle technologies and has participated in Formula E racing since 2014. In 2024, it launched the Onvo brand to serve the mass-market segment.
Nio launched its brand on 21 November 2016 at the Saatchi Gallery in London. Investors included Tencent, Temasek, Sequoia Capital, Lenovo, and TPG Capital. The company also unveiled its first model, the Nio EP9 sports car, on the same day.
A month earlier, in October 2016, the company received an autonomous vehicle testing permit from the California Department of Motor Vehicles and began testing on public roads under the state’s Autonomous Vehicle Tester Program. It stated plans to develop vehicles with level-three and level-four autonomy.
In May 2018, Nio opened its first battery-swap station in the Nanshan District of Shenzhen, Guangdong, called the Power Swap Station. It initially served the ES8 model only.
The company filed for an initial public offering worth about US$1.8 billion on the New York Stock Exchange in September 2018.
By 2020, Nio faced major financial difficulties, and its share price had fallen 62% since the IPO. The Hefei city government acquired a 25% stake and helped the company secure loans from six local banks to strengthen its battery, engine, and control-system supply chains. In April 2020, Nio raised about US$1 billion from Chinese investors and transferred its main assets to a new subsidiary, Nio China, headquartered in Hefei. Vehicle production increased by 81% over the following year, and the company’s valuation rose to about US$100 billion.
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Nio Inc.
Nio Inc. (Chinese: 蔚来; pinyin: Wèilái; stylized as NIO) is a Chinese electric vehicle manufacturer headquartered in Shanghai. Founded in 2014, it adopted its current name in 2016. The company designs and sells electric vehicles, including sedans and SUVs, and has expanded into smartphone development.
In 2018, Nio filed for an initial public offering on the New York Stock Exchange. It collaborates with the government-licensed vehicle manufacturer JAC Group to operate two production plants in Hefei, Anhui, China.
Nio operates more than 1,300 battery swapping stations in China (as of 2022). The company develops semi-autonomous and autonomous vehicle technologies and has participated in Formula E racing since 2014. In 2024, it launched the Onvo brand to serve the mass-market segment.
Nio launched its brand on 21 November 2016 at the Saatchi Gallery in London. Investors included Tencent, Temasek, Sequoia Capital, Lenovo, and TPG Capital. The company also unveiled its first model, the Nio EP9 sports car, on the same day.
A month earlier, in October 2016, the company received an autonomous vehicle testing permit from the California Department of Motor Vehicles and began testing on public roads under the state’s Autonomous Vehicle Tester Program. It stated plans to develop vehicles with level-three and level-four autonomy.
In May 2018, Nio opened its first battery-swap station in the Nanshan District of Shenzhen, Guangdong, called the Power Swap Station. It initially served the ES8 model only.
The company filed for an initial public offering worth about US$1.8 billion on the New York Stock Exchange in September 2018.
By 2020, Nio faced major financial difficulties, and its share price had fallen 62% since the IPO. The Hefei city government acquired a 25% stake and helped the company secure loans from six local banks to strengthen its battery, engine, and control-system supply chains. In April 2020, Nio raised about US$1 billion from Chinese investors and transferred its main assets to a new subsidiary, Nio China, headquartered in Hefei. Vehicle production increased by 81% over the following year, and the company’s valuation rose to about US$100 billion.