Nio Inc. (Chinese: 蔚来; pinyin: Wèilái; stylised as NIO) is a Chinese multinational automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company develops battery-swapping stations for its vehicles, as an alternative to conventional charging stations. The company has raised over $5 billions from investors. In 2021, Nio plans to expand to 25 different countries and regions by 2025.
Nio was founded in November 2014 by William Li, a former executive at Geely Automobile. The company’s name, Nio, is derived from the Chinese word for “future”. Nio’s mission is to “shape a joyful lifestyle” by providing users with smart electric vehicles that are both stylish and technologically advanced.
Journey of Nio
Nio’s journey has been a challenging one. The company has faced stiff competition from established automakers such as Tesla and BYD. However, Nio has also made significant progress. In 2018, the company delivered its first vehicle, the ES8, a seven-seater SUV. The ES8 was well-received by critics and consumers alike. In 2019, Nio delivered its second vehicle, the ES6, a five-seater SUV. The ES6 was also a success.
In 2020, Nio faced a number of challenges, including the COVID-19 pandemic and the global chip shortage. However, the company continued to grow. In 2020, Nio delivered 43,700 vehicles, a 109% increase from 2019.
In 2021, Nio is on track to deliver even more vehicles. The company has already delivered 17,296 vehicles in the first quarter of 2021, a 491% increase from the first quarter of 2020.
Entry of Nio into EV industry
Nio entered the EV industry in 2018 with the launch of its first vehicle, the ES8. The ES8 is a seven-seater SUV that is powered by a 100 kWh battery pack. The ES8 has a range of up to 355 miles on a single charge.
Nio’s entry into the EV industry has been met with positive reviews. The company has been praised for its innovative battery swapping technology and its stylish and technologically advanced vehicles.
Parent/ daughter companies
Nio has a number of parent and daughter companies. Its parent company is Nio Capital, which is a venture capital firm that invests in early-stage technology companies. Nio’s daughter companies include Nio Power, which is responsible for the development and operation of Nio’s battery swapping network, and Nio Life, which is a lifestyle brand that sells products such as clothing, accessories, and home goods.
Future plan
Nio has ambitious plans for the future. The company plans to launch a number of new vehicles in the coming years, including a sedan, a coupe, and an SUV. Nio also plans to expand its battery swapping network and to open new retail stores in China and around the world.
Nio is well-positioned to succeed in the EV industry. The company has a strong team of experienced executives, a well-funded business, and a portfolio of innovative products. Nio is poised to become a major player in the global EV market.
Nio Company Profile
| Founded in: | 2014 |
| Owner Company: | Nio |
| Main Headquarter: | China |
| Area Served: | Asia, North America, and Europe |
| Manufacturer of: | Four Wheelers |
| Communication: | Official Website |
