NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s
premium smart electric vehicle market, today launched the
innovative Battery as a Service (the “BaaS”) subscription model and
announced the establishment of Wuhan Weineng Battery Asset Co.,
Ltd. (the “Battery Asset Company”).
The BaaS model allows users to purchase electric
vehicles and subscribe the usage of battery packs separately. If
users opt to purchase an ES8, ES6 or EC6 model and subscribe to use
the 70 kWh battery pack under the BaaS model, they can enjoy the
vehicle purchase price with an RMB70,000 deduction off the original
price and pay a monthly subscription fee of RMB980 for the battery
pack. Meanwhile, the users will continue to enjoy the existing
favorable policies such as purchase tax exemption and government
subsidies for EVs. The first vehicle under the BaaS model has
completed the process of license plate registration, insurance
purchase, and auto financing. All users who purchase NIO vehicles
are now eligible to place orders with the BaaS model.
On August 18, 2020, NIO, Contemporary Amperex
Technology Co., Limited (“CATL”), Hubei Science Technology
Investment Group Co., Ltd. and a subsidiary of Guotai Junan
International Holdings Limited (collectively the “Partners”)
jointly established the Battery Asset Company. NIO and the Partners
will each invest RMB200 million and hold 25% equity interest in the
Battery Asset Company respectively. The Battery Asset Company is
dedicated to purchase and own the battery assets, and lease the
battery packs to users who subscribe to the BaaS model.
“The BaaS model has long been planned with our
unique battery swap technologies. The successful launch of the BaaS
model will enable NIO users to benefit from the lower initial
purchase prices of our products, flexible battery upgrade options
and assurance of battery performance,” said William Bin Li,
founder, chairman, and chief executive officer of NIO. “As of
today, NIO has deployed 143 battery swap stations across 64 cities
in China, and completed over 800,000 battery swaps for our users.
The advantages of our chargeable, swappable and upgradable battery
swap technologies will continue to enhance competitiveness of NIO
products, promote conversion to our premium smart EVs and create
more values for our users.”
About NIO Inc.
NIO Inc. is a pioneer in China’s premium smart
electric vehicle market. Founded in November 2014, NIO’s mission is
to shape a joyful lifestyle by offering premium smart electric
vehicles and being the best user enterprise. NIO designs, jointly
manufactures, and sells smart and connected premium electric
vehicles, driving innovations in next-generation technologies in
connectivity, autonomous driving, and artificial intelligence.
Redefining the user experience, NIO provides users with
comprehensive, convenient, and innovative charging solutions and
other user-centric services. NIO began deliveries of the ES8, a
7-seater flagship premium electric SUV in China in June 2018, and
its variant, the 6-seater ES8, in March 2019. NIO officially
launched the ES6, a 5-seater high-performance premium electric SUV,
in December 2018 and began the first deliveries of the ES6 in June
2019. NIO officially launched the EC6, a 5-seater premium electric
coupe SUV, in December 2019 and plans to commence deliveries in
2020.
About Contemporary Amperex Technology Co.,
Limited
Contemporary Amperex Technology Co., Limited
(CATL) (SZ.300750) is a global leader in the development and
manufacturing of lithium-ion batteries, with businesses covering
R&D, manufacturing and sales of battery systems for new energy
vehicles and energy storage systems. The company is committed to
providing best-in-class solutions for global new energy
applications. Headquartered in Ningde, China, CATL has subsidiaries
in Liyang (Jiangsu Province), Xining (Qinghai Province) and
Yibin (Sichuan Province), as well as in Munich (Germany), Paris
(France), Yokohama (Japan), Detroit (USA). In addition, the company
owns and operates battery manufacturing facilities in Fujian,
Jiangsu, Qinghai and Sichuan Provinces, and in its European plant
located in Erfurt, Germany, its first overseas plant that is
currently under construction. The company is ranked No.1 globally
in the consumption volume of EV battery products for three
consecutive years (source SNE Research).
About Hubei Science Technology Investment Group
Co., Ltd.
Hubei Science and Technology Investment Group
Co., Ltd. (HBSTI) was established by the Management Committee of
East Lake High-tech Zone in July, 2005.The registered capital of
HBST is 40 billion RMB. It undertakes the five functions of "major
infrastructure construction, industrial park construction, key
industry investment, scientific and technological financial
services, and state-owned assets operation" of East Lake high tech
zone. By the end of 2019, the total assets of HBSTI are about 160
billion RMB, and the group has more than 80 subsidiaries. It has
become the largest state-owned holding group in the High-tech Zone.
In the next ten years, HBSTI will strive to build a "science and
technology park + industrial cluster + city supporting" business
model, to become the "industry incubator" and "city service
provider" of Optical Valley.
About Guotai Junan International Holdings
Limited
Guotai Junan International (GTJAI, Stock Code:
1788.HK) is the market leader and first mover for
internationalization of Chinese Securities Company. The Company is
the first Chinese securities broker to list on the Main Board of
The Hong Kong Stock Exchange by way of initial public offering.
Based in Hong Kong, the Company provides diversified integrated
financial services. The core services include: wealth management,
corporate finance, loans and financing, asset management and
financial products. Guotai Junan International has been assigned
“Baa2 / Prime-2” and “BBB+ / A-2” long-term issuer rating from
Moody and Standard & Poor respectively.The controlling
shareholder, Guotai Junan Securities Company Limited is the
comprehensive financial provider with a long-term, sustainable and
overall leading position in the Chinese securities industry.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, quotations from
management in this announcement, as well as NIO’s strategic and
operational plans, contain forward-looking statements. NIO may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about NIO’s beliefs, plans,
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: NIO’s strategies; NIO’s future business
development, financial condition and results of operations; NIO’s
ability to develop and manufacture a car of sufficient quality and
appeal to customers on schedule and on a large scale; its ability
to grow manufacturing in collaboration with partners; its ability
to provide convenient charging solutions to its customers; its
ability to satisfy the mandated safety standards relating to motor
vehicles; its ability to secure supply of raw materials or other
components used in its vehicles; its ability to secure sufficient
reservations and sales of the ES8 and ES6; its ability to control
costs associated with its operations; its ability to build the NIO
brand; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in NIO’s filings with the SEC. All information provided in
this press release is as of the date of this press release, and NIO
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For more information, please visit:
http://ir.nio.com
For investor and media inquiries, please
contact:
NIO Inc.Investor RelationsTel:
+86-21-6908-2018Email: ir@nio.com
Source: NIO
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