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For its part, Nio will do long-term development planning for the park, establishing teams in R&D, manufacturing, marketing and management. The Hefei government will provide support, attract high-quality enterprises to the park and assist in construction funding and talent. The signing of the framework agreement marks another significant milestone of the profound strategic partnership between NIO and Hefei, according to Nio. Click here to check out Benzinga s EV Hub for the latest electric vehicles news. Why It s Important: Groups led by the Hefei government infused $989 million in cash into Nio China in April 2020, giving the consortium of strategic investors about a 24% stake in Nio China. ....
Nio takes wraps off the ET7, its first ever all-electric sedan Simran Rastogi Published: January 11, 2021, 12:33 PM IST Chinese auto manufacturer Nio unveiled its newest EV, the ET7 electric sedan, at a star-studded annual Nio Day event in Chengdu. The ET7 (based on the ET concept) is Nio s first ever all-electric sedan model, coming after the success of the EC6, ES6 and ES8 SUVs, and also represents the manufacturer s first fully autonomous-capable vehicle. With deliveries expected in Q1 2022, the ET7 looks like it could successfully take on Tesla s flagship Model S, with pricing undercutting the Americans at a starting price of 448,000 yuan (Rs 51 lakh converted) pre-subsidies. Nio will also offer the ET7 s battery on a subscription basis which drops the price further to 378,000 yuan (Rs 39 lakh converted). ....