In the past year, NIO underwent significant transformations, embracing the new and achieving several milestone collaborations that hold great significance for the company. Simultaneously navigating through cycles of cooperation and transformation, NIO overcame various challenges, paving the way for a more promising 2024.

NIO's delivery center in Nanxiang district, Shanghai; photo credit: NIO

ZXZC conducted a year-end review of key automotive and component companies, offering you a retrospective on the noteworthy events that unfolded for NIO in 2023.

NIO launches ET9 flagship sedan model on NIO Day 2023

On December 23, 2023, Chinese prominent electric vehicle manufacturer NIO officially launched the ET9, its fire new flagship all-electric sedan model, at the NIO Day 2023, its most important event of the year.

NIO secures $2.2 billion strategic investment from Abu Dhabi's CYVN

On December 18th, NIO inked a new share subscription agreement with CYVN Holdings L.L.C ("CYVN Holdings"), through its affiliate CYVN Investments RSC Ltd (the "Investor" or "CYVN"), an investment vehicle based in Abu Dhabi.

As per the agreement, CYVN will make a strategic investment of approximately $2.2 billion in cash to subscribe for 294 million newly issued Class A ordinary shares of NIO at a per share purchase price of US$7.50 (the "December Investment Transaction").

NIO's ET7 powered by 150kWh battery pack achieves 1,044-km road trip

On December 17 at 6:30 AM, William Bin Li, the founder, chairman, and CEO of NIO, embarked on a live test drive from Shanghai to evaluate the extended range of the 150kWh battery pack with an ET7 sedan. By 10:47 PM on the same day, NIO officially announced that the 150kWh battery had covered a remarkable 1,044 kilometers in a total driving time of 12.4 hours (excluding stops), averaging a speed of 83.9 km/h.

NIO, Germany's RWE forge partnership on power supply

Chinse electric vehicle maker NIO and RWE, one of the leading companies in renewable energy in Europe, recently inked a cooperation agreement under which the latter will take over the green power supply for NIO properties that do not directly source electricity from the property owner.

NIO's 2,200th battery swap station in China goes live

On December 6, NIO announced the launch of its 2,200th battery swap station in China, which is situated at the Wuwei Service Area on the G30 Expressway. This new facility addition strengthens NIO's battery swapping network along the Silk Road, with a total of 12 battery swap stations and 47 electric vehicle (EV) charging stations now spanning from Xi'an to Horgos.

NIO, Geely join hands to develop battery swapping-related businesses

On November 29, Zhejiang Geely Holding Group ("Geely Holding") and NIO Holding Ltd. ("NIO") signed a strategic cooperation agreement on battery swapping. The collaboration encompasses a broad spectrum, including battery standards, battery swapping technology, construction and operation of power swap service network, R&D and customization of battery-swap-enabled vehicle models, and battery asset management and operation.

NIO, Changan Auto join forces to develop battery swap-related business

On November 21, Changan Auto and NIO signed a cooperative agreement in Chongqing city on battery swap-related businesses. This groundbreaking collaboration aims to establish battery swap standards, facilitate the construction and sharing of battery swap networks, engage in joint R&D of battery-swap-enabled vehicle models, and implement an efficient battery asset management system.

NIO, Baolong Automotive forge comprehensive partnership

Chinese new energy vehicle maker NIO and auto parts supplier Baolong Automotive recently inked a strategic partnership agreement, according to a press release Baolong issued on its WeChat account on October 30.

NIO begins selling first smartphone

On September 21, 2023, during the NIO IN 2023 (NIO's innovative technology event), the Chinese smart electric vehicle (EV) maker NIO launched its debut smartphone, the NIO Phone, and made it instantly available for purchase.

The NIO Phone comes with three variants, which are priced at 6,499 yuan, 6,899 yuan, and 7,499 yuan for the Performance, Flagship, and EPedition, respectively.

NIO puts All-New EC6 onto market

On September 15, NIO officially revealed the prices for its midsize SUV, the All-New EC6. The vehicle is available in two trim levels, priced at 358,000 yuan and 416,000 yuan, respectively. For those interested in battery leasing, both variants are priced at 288,000 yuan. Battery rental options are available at 980 yuan per month and 1,680 yuan per month, respectively.

NIO Power to co-construct EV charging, power swap infrastructures with Ascott

On August 27, NIO Power and Ascott China, a subsidiary of CapitaLand Group's Ascott Limited, formally inked an agreement for cooperation on green energy. The partnership aims to jointly construct electric vehicle (EV) charging and battery swapping infrastructures, so as to advance sustainable development and enhance the overall user experience.

NIO's first third-gen power swap station in Europe comes online

On August 17, Chinese electric vehicle (EV) maker NIO announced the official launch of the inaugural European-spec third-generation battery swap station and a blazing 500kW ultra-fast charging station.

NIO launches V2G charging pile, new pricing standard for battery swap service

At the NIO Power Day 2023 held on July 20, NIO announced the official opening of the "Power Journeys Silk Road" power replenishment route, and unveiled multiple innovative services, technologies, and products, including the "On-a-Daily-Basis Flexible Battery Upgrade Service," new battery swap pricing, and the V2G charging pile.

NIO announces completion of strategic equity investment from CYVN

NIO, the Chinese electric vehicle manufacturer, on July 13 announced the successful completion of the previously disclosed strategic investment of $738.5 million from CYVN Investments RSC Ltd., an affiliate of CYVN Holdings L.L.C., an investment vehicle majority owned by the Abu Dhabi Government with a strategic focus on advanced and smart mobility (collectively referred to as “CYVN Entities”).

NIO's NOP+ feature goes live on roads within 5th Ring Road in Beijing

On July 10, NIO's Navigation on Pilot Plus (NOP+) feature came online for highways and urban expressways within the 5th Ring Road in Beijing. With this update, NIO's NOP+ achieves full coverage on the 2nd Ring Road, 3rd Ring Road, 4th Ring Road, and 5th Ring Road, expressways, and highways within Beijing, providing a more seamless and convenient NOP+ travel experience.

NIO inaugurates innovation center in Berlin

On July 4 local time, the NIO Berlin Innovation Center was inaugurated, marking a significant milestone in the company's international expansion.

The Innovation Center aims to enhance the intelligent experience for European users through localized R&D, thus signaling NIO's commitment to tailor its products and services to the specific needs of the European market.

NIO Power, CNOOC team up on building EV charging, battery swapping infrastructures

On June 27, NIO Power and CNOOC Refinery, China National Offshore Oil Corporation (referred to as "CNOOC")’s wholly-owned refinery subsidiary, officially signed a strategic cooperation framework agreement in Hefei city, according to a press released NIO posted on its WeChat account.

NIO announces investment support from CYVN Holdings

NIO Inc., a Chinese pioneer player in the premium smart electric vehicle market, announced on June 20 that it has reached a share subscription agreement with CYVN Holdings L.L.C. (referred to as the "Investor" or "CYVN Holdings"), an investment entity primarily owned by the Abu Dhabi Government focused on advanced and smart mobility.

Under the agreement, the Investor will invest a total of US$738.5 million in cash to subscribe to 84,695,543 newly issued Class A ordinary shares of NIO at a per share purchase price of US$8.72. This price represents the volume weighted average price of Class A ordinary shares on the New York Stock Exchange over the seven consecutive trading days leading up to June 19, 2023 (referred to as the “Investment Transaction”).

NIO's first touring model hits market worldwide

On June 15th, NIO, a leading name in China's electric vehicle industry, put its first touring model - the ET5 Touring, onto the market.

The highlight of this release is the simultaneous global launch of the ET5 Touring, followed by next-day deliveries worldwide.

NIO reduces prices across entire product lineup

On June 12, Chinese electric vehicle (EV) manufacturer, NIO, announced a price adjustment for its entire range of new cars, as well as a modification to the benefits package for first-time car owners.

NIO upgrades Banyan intelligent vehicle system to 2.0.0 version

NIO unveiled in late May the new version of its Banyan smart in-car system, called Banyang 2.0.0, touting its focus on "efficiency, understanding, and freedom."

All-new NIO ES6 hits market, starting at 368,000 yuan with battery

On the evening of May 24, the all-new NIO ES6 officially hit the market, with two trim levels offered, which start at 368,000 yuan and 426,000 yuan with the battery pack, respectively.

Through the battery rental solution, the all-new ES6 without battery pack will be priced at 298,000 yuan. Users are allowed to use the 75kWh battery by paying 980 yuan per month, and 1,680 yuan each month for the 100kWh battery.

NIO, Autoliv step up cooperation to shape new mobility mode

Chinese new energy vehicle startup NIO and the global vehicle safety systems supplier Autoliv signed a strategic cooperation agreement on May 17 to jointly shape a new mobility mode, according to a post on Autoliv’s WeChat account.

NIO, NXP ally on 4D imaging radar deployment

NXP Semiconductors (NXP) announced on May 2 that NIO, Chinese smart new energy vehicle startup, will leverage NXP's cutting-edge automotive radar technology, including its state-of-the-art imaging radar solution.

NIO's power swap service covers entirety of G3 Expressway in China

On April 23, Chinese new energy vehicle startup NIO announced that its battery swap service reach now fully covers the G3 Beijing-Taipei Expressway, totaling 2,030km.

NIO puts first 3rd-generation Power Swap stations into use

NIO announced on Apr. 14 that the first 10 NIO third-generation Power Swap stations have come online.

The aforesaid battery swap stations are located in Beijing, Shanghai, Shenzhen, Haikou, Qingdao, Hefei, Harbin, Wuxi, Chengdu, and Zhengzhou cities.

NIO, Tuopu Group to cooperate on R&D, manufacturing, supply of NEV auto parts

Chinese auto parts supplier Ningbo Tuopu Group announced on March 16 it has signed a framework agreement with the new energy vehicle startup NIO to carry out the strategic cooperation on the R&D, manufacturing, and supply of NEV-related auto parts.

NIO's first Denmark-based power swap station starts operation

On Mar. 6, NIO saw its first Denmark-based battery swap station go live in Slagelse, the Chinese electric vehicle (EV) startup announced via its WeChat account.

Slagelse is in the western part of Zealand, Denmark, and is about 100 kilometers southwest of Copenhagen. Next to the E20 highway, the new station is able to provide convenient charging services for users traveling to and from Sweden, Norway, Germany, and the Netherlands, with its service reaches extending to five European countries.

CATL, NIO step up strategic cooperation with 5-year agreement

On Jan. 17, Chinese battery giant CATL and the electric vehicle startup NIO signed a five-year agreement for an all-around strategic cooperation, according to a post on CATL's WeChat account.