What happened
Chinese electric vehicle maker shares NIO (NYSE: NIO) they were climbing on Friday, the day before a new model was unveiled at the company’s annual event for owners and fans. As of 12:15 pm EST, American depositary shares of NIO rose about 8.1% from Thursday’s closing price.
And
The annual event “NIO Day” from NIO is a party for owners and fans, in which the company usually shows new products and new technologies. NIO told us (a little) what to expect from tomorrow’s edition, to be held in Chengdu:
- A new sedan. The new model is expected to look a lot like the ET Preview concept vehicle that NIO introduced in 2019. This car was a sleek, modern four-door sedan with dual engines and a number of advanced driver assistance features; it is a good bet that the production version will include more advanced technology, preserving the appearance of the concept.
- A bigger battery. NIO will launch a new 150 kilowatt-hour (kWh) battery tomorrow. This is much more important than you think. All NIO production vehicles to date have modular batteries. Packages can be exchanged at automated stations and owners can upgrade to larger batteries (giving more reach) after purchase or as part of a battery change service subscription. As of today, the largest NIO battery pack is rated at 100 kWh, good for 615 kilometers (about 380 miles) of range on the brand’s best-selling EC6; the new package will represent a good update.
- New steering technology. NIO will also present a new version of its advanced driver assistance system, which I hope will be standard on the new sedan.
NIO is due to unveil a new electric sedan at tomorrow’s event. Image source: NIO.
What now
Automotive investors who wish to follow NIO Day should check the details on the company’s website. But note that you will have to wake up early if you are in the United States, as the event is scheduled to start at 5:30 am EST.