Shanghai (ZXZC)- NIO Co., Ltd., an affiliated company of Chinese electric vehicle (EV) startup NIO Inc., has applied for the registration of the trademark "NIO PHONE", according to the corporate information inquiry platform Qichacha, a sign that NIO is preparing for the future launch of its smartphones.

The new trademark is put under the international classification of the Class 9 scientific instrument with its registration still in the “pending” status, according to Qichacha's information.

William Bin Li, founder, CEO, and chairman of NIO, revealed last July that NIO was planning on launch of a smartphone. In Aug. last year, NIO Mobile Technology Co., Ltd. was incorporated with a registered capital of $100 million, as part of preparations to enter the smartphone industry.

At the NIO Day 2022 held in last Dec., William Bin Li stressed that NIO's smartphone development had been underway, and the company planned to release a new phone once a year.

According to earlier reports, NIO's first smartphone is likely to be priced over 5,000 yuan ($740) and even has a price tag of higher than 7,000 yuan ($1,030). It is likely to be a bar phone.