Nio Inc is a pioneering electric vehicle (EV) manufacturer based in China, specializing in the design, manufacture, and sale of high-performance smart electric vehicles
The company is renowned for its innovative approach to automotive technology, incorporating advanced features such as artificial intelligence and autonomous driving capabilities into its vehicles. Nio also emphasizes a customer-centric experience, offering services such as battery-as-a-service, enabling users to swap out depleted batteries for fully charged ones at designated stations. Through its commitment to sustainability and innovation, Nio aims to redefine the future of mobility in the global auto industry.
Wall Street remains in the red heading into the end of the week, with major indexes posting modest midday losses in New York, though well off the session’s earlier lows.
The company reported a total revenue of RMB19.70 billion ($2.69 billion), which marked a 15.2% increase from the corresponding quarter of 2023 but fell below an analyst estimate of RMB20.19 billion, per FinChat data.
The two companies will also pursue capital cooperation as part of the partnership signed in Ningde, Fujian province, with CATL investing up to RMB 2.5 billion (about $350 million) in Nio Power.
NIO shares rise in premarket trading after announcing a strategic partnership with CATL. The collaboration aims to enhance the new energy vehicle sector by creating a comprehensive battery swapping network.
