what happened
Shares of Chinese electric vehicle manufacturer NIO (NYSE: NIO) moved higher on Friday, a day ahead of a new model unveiled at the company’s annual event for owners and fans. As of 12:15 p.m. EST, NIO’s U.S. deposit shares rose about 8.1% of Thursday’s closing price.
Approximately
NIO’s annual “NIO Day” event is a festival for owners and fans at which the company usually showcases new products and new technologies. NIO told us (some of) what to expect from tomorrow’s issue in Chengdu:
- A new sedan. The new model is expected to look a lot like the ET Preview concept vehicle presented by NIO in 2019. The car was a sleek, stylish four-door sedan with dual cars and a slew of advanced driver assistance features; There is a good chance that the production version will include more advanced technology, while maintaining the concept’s appearance.
- A larger battery. NIO will launch a new battery pack of 150 kilowatt hours (kWh) tomorrow. This is a bigger issue than you might think. All of the NIO’s production vehicles so far have modular battery packs. The packages can be exchanged at and from automatic stations, and owners can upgrade to larger batteries (which offer more range) after purchase or as part of a subscription to the battery exchange service. As of today, the largest NIO battery pack is rated at 100 kWh, which is good for a nominal distance of 615 kilometers (about 380 miles) in the brand’s top-selling EC6; the new package will be a good upgrade.
- New management technology. NIO will also display a new version of its advanced driver assistance system, which in my opinion will be standard on the new sedan.
NIO is expected to launch a new electric sedan tomorrow. Image source: NIO.
Now what
Car investors looking to follow NIO Day should visit the company’s website for more information. But note that you must get up early when you are in the United States, as the event is scheduled for 5:30 p.m. EST.