Nio Inc (NIO)

[BottomBounce]

$NIO On July 24, NIO registered NIO Automotive Technology Co., Ltd. in Beijing with a registered capital of 7 billion yuan. The business covers the development of new energy vehicles and related parts and components, the wholesale of auto parts, the import and export of goods, and the sale of automobiles.

At the end of May this year, NIO announced that it has signed a framework agreement with Beijing E-Town International Investment & Development Co., Ltd. (“E-Town”). NIO will build a new factory in Beijing Economic and Technological Development Zone to produce its EV based on second-generation platform. E-Town will invest 10 billion yuan in NIO.