Nio upgraded the service a year ago, and more than 3,000 consumers have used it in the past year.

In the previous car rental service offered by Nio, the monthly cost was fixed at RMB 9,888 ($1,440). In the upgraded service, each car is rented at a different price and the cost is reduced each month.

In the case of an ES6 SUV produced in 2020 with 34,000 kilometers on the road, a user can rent it for RMB 7,114 in the first month and RMB 6,661 in the 12th month, according to Nio's announcement last year.

This amount decreases month by month to RMB 4,684 in the 60th month.

Since the launch of the upgraded service, more than 3,000 consumers have experienced it, Nio said today.

To date, the service is available in 20 cities, including Shanghai, Beijing, Xi'an, Wuhan, Chengdu and Guangzhou, Nio said.

In 2023, the service will expand to an additional 10 cities, according to a poster by Nio.

($1 = RMB 6.8815)

NIO upgrades service that allows users to rent cars like software subscription