NIO, an all-electric car company, was founded in Shanghai in 2014 .
Nio's first car, introduced in 2016, the EP9 is an all-electric super car. The super car produce 1 megawatt or 1,341bhp with a 0-124mph time of 7.1 seconds and a top speed of 194mph.
NIO's first volume-produced car, released in 2017, the NIO ES8 is 7-seater SUV with a range of 220 miles, and starting between USD $67,000 and $68,000. The ES8 shipped with NIO's NIO Pilot driver-assistance system, a 10.4 inch touchscreen, a heads-up display and voice-activated controls. NIO provides ES8 owners with mobile charging or battery-swapping services.
In June 2019, NIO had to recall 4,800 ES8 vehicles because of batter pack modules whose positing caused short circuits in extreme cases.
NIO's second volume production vehicle, released in 2018, the ES6 is a 5-seater SUV. The ES6 launched at USD $52,000 with delivery expected in June 2019. The ES6 had a range of 317 miles and had NIO's AI NOMI built in.
Products and services
Launched in 2018, NIO Life is a lifestyle brand offering. In October 2018 they announced a partnership with fashion designer Hussein Chalayan known as NIO X Chalayan.
NIO launched NIO House in 2018. Nio Houses are a series of clubhouses designed as a home away from home for NIO owners.
NIO Power is a battery swap station where NIO owners can get their cars battery swapped in three minutes. NIO plans to install 1,100 stations across China by 2020. The charging has been $25 per battery swap or $130 for a monthly subscription, but NIO announced 12 free battery swaps a year for early reservation holders or owners of the Founders Edition of the ES8.
NIO Power also offers their One Click for Power, a service where a charging van will come to the NIO owner and charge their car. NIO's service is open to other EV vehicles as well.
NIO's service centres offer to fix the car issues either at a centre or remotely through one of their Service Express vans. The first service center opened beside a Tesla Service Centre.
In September of 2018, NIO launched its initial public offering. NIO priced their shares at $6.26, which was above the low end of their $6.25 to $8.25 target range. 160 million depository shares were sold and raised $1 billion for NIO. Goldman Sachs, JPMorgan, and Morgan Stanley led the IPO, which included Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank and UBS.
In March of 2019, it was revealed NIO's IPO underwriters signed a year-long non-compete clause.
Announced in March 2015, NIO raised $347.4 million. The round included investment from Smart Group, Shunwei Capital, Sequoia Capital, Padmasree Warrior, Joy Capital and Hillhouse Capital Group.
Announced in July 2016, NIO raised $316 million. The round was led by Temasek Holdings, Sequoia Capital China and Joy Capital and included participation from Anderson Investments, Hillhouse Capital Group, Shunwei Capital, Mount Putuo Investment, SCC Growth, Bluestone Company, Magic Stone Alternative Private Equity Fund, TPG Growth, Ultimate Lenovo Limited, Renaissance Era International Private Equity Fund, Palace Investments, Grandfield Investment, IDG China Venture, Bright Sky, Orient Hontai Ltd, Long Winner Investment LImited and HH RSV-X Holdings.
Announced in March 2017, NIO raised $645.7 million. Tencent Holdings and Baidu led the round which included participation from TPG, NewMargin Ventures, Lenovo Capital and Incubator Group, IDG Capital, Hillhouse Capital Group, Haitong International Securities Group, GIC and Everbright-IDG Industrial Fund.
Announced in November 2017, NIO raised $1 billion. Tencent Holdings led the round which included Lone Pine Capital, K3 Ventures, China Asset Management, CITIC Capital Holdings and Baillie Gifford.
In October 2018, NIO announced they raised an undisclosed amount of post-IPO equity from Baillie Gifford. In May 2019, another Post-IPO equity was announced, for CN ¥10 billion raised from Beijing E-town International Investment & Development.
Post-IPO Debt offering
Announced in September 2019, NIO announced $200 million in convertible notes. The convertible notes will be split between NIO and Tencent Holding, where each will offer $100 million principal amount in two equally split tranches. Notes in the first tranche will mature in 360 days at 2% premium. Notes in the second tranche will mature in three years and bear no interest.
NIO raises a $1,000,000,000 private equity from CMG-SDIC Capital Management, Anhui Provincial Emerging Industry Investment and Hefei City Construction and Investment Holding Group.
NIO raises a $235,000,000 private equity.
NIO raises a $100,000,000 private equity.
NIO raises a $200,000,000 private equity from Tencent and William Li.
NIO raises a $1,449,275,362 private equity from Beijing E-town International Investment & Development.
NIO raises a $1,100,000,000 series D round from Lone Pine Capital, China Asset Management, Baillie Gifford, CITIC Capital Holdings, K3 Ventures and Tencent.
NIO raises a $645,700,000 series C round from IDG Capital Partners, Hillhouse Capital Group, Haitong International Securities Group Limited, Baidu, Lenovo Capital, TPG Growth, GIC Pte Ltd, NewMargin Ventures and Tencent.
NIO raises a $316,000,000 series B round from TPG Growth, HOPU Investment Management Company, Temasek Holdings, MSA Capital, Sequoia Capital China, Joy Capital, Lenovo and Tencent.
NIO raises a $347,400,000 series A round from Hillhouse Capital Group, Smart Group, Shunwei Capital, Sequoia Capital China and Joy Capital.
NIO was founded by William Li.
Chairman and Chief Executive Officer
Vice President of Finance
Vice President and Chairman of Quality Management Committee
Ganesh V. Iyer
Managing Director, NIO U.S. and Global Chief Information Officer
Director and President
Louis T. Hsieh
Chief Financial Officer
Vice President and Chairman of Product Committee