Chinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service that will allow drivers to buy an EV without owning the battery pack - one of the most expensive EV components - thereby lowering the starting price of its cars. The cheapest Nio car after subsidies is now an ES6 sport-utility vehicle (SUV) priced 273,600 yuan ($39,553) without ownership of the battery pack, versus 343,600 yuan including the pack. "We believe with BaaS, more customers of gasoline cars will consi
The 27-year-old German lost his real world drive after he let a gamer take his place, without the rest of the field knowing, in an official Formula E 'Race at Home Challenge' event. Abt, a winner in Berlin in 2018, will replace Chinese driver Ma Qinghua alongside British driver Oliver Turvey at the Chinese-owned team in the season finale behind closed doors at the old Tempelhof airport next month.
The carmaker, seen as a challenger to Tesla Inc , has been hurt by dwindling demand and reduced government subsidies for electric vehicles in China, the world's largest car market. Last month, it signed https://www.reuters.com/article/nio-funding-electric/update-1-chinese-ev-maker-nio-in-talks-with-hefei-on-funding-plants-idUSL3N2AP2L8 framework agreements with Hefei's city government to raise more than 10 billion yuan and set up new manufacturing facilities. Vehicle sales in China fel
Nio sold 603 units of model ES8 and 4,196 units of its cheaper ES6 model in the quarter. Nio's ES8, a pure-electric, seven-seater sport-utility vehicle, is widely seen as a rival to Tesla Inc's Model X. The company counts Chinese internet giant Tencent Holdings and Hillhouse Capital Management as its shareholders, and raised $1 billion last year in an initial public offering that valued it at $6.4 billion.
Electric vehicle startup Nio is laying off 141 people at its North American headquarters. According to a filing from Employment Development Department of California, the employees at its San Jose office received notice on December 6. Nio, whose global headquarters are in Shanghai, announced last month that it is partnering with Intel’s Mobileye to develop autonomous vehicles for consumers.
It's a fastback sedan said to boast Level 4 autonomous capability.
Shares in NIO fell 15 percent one day after the company's IPO.
Has begun deliveries of its electric SUV, plans to go public on the NYSE.
The first Chinese customers have received their NIO ES8 vehicles.
It follows last year's record lap at Nurburgring Nordschleife.
It plans to bring its first car to U.S. market in 2020
For going on three decades, CES is the reason I don't make New Year's resolutions, like going on a diet or quitting drinking. While I realize that this is certainly a champagne problem, heading to Vegas is not my ideal way to kick off the new year. Or even end it, since I'm not a fan of Sin City. Whereas most people go to Vegas expecting to pig out on all-you-can-eat buffets and engage in all-night drinking and gambling binges, I've made the trek since 1989 to consume as much as I c