NIO Inc. (NYSE:NIO) saw its shares rise in premarket trading on Tuesday. The company conducted NIO Day 2024, held in Guangzhou on December 21.
The event, which celebrated the company's 10th anniversary, was a major milestone for the electric vehicle (EV) maker.
With over 20,000 attendees, it became the largest NIO Day in history.
The day's highlight was the launch of the NIO ET9, a smart electric executive flagship, priced at 788,000 RMB.
With a limited edition of 999 units, the ET9 incorporates NIO's advanced technological capabilities across various domains, including design, intelligent systems, and safety features.
The Nio ET9 was first revealed at NIO Day 2023. Deliveries are expected to begin in the first quarter of 2025, marking a key expansion of Nio's product range to appeal to a broader market.
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In other news, NIO is also making strides in its smart driving division, CnEV Post reports.
The company has restructured its team to focus on end-to-end technology, signaling a commitment to advancing its autonomous driving capabilities.
This restructuring follows a similar reorganization in June and reflects NIO's push to keep up with local competitors that have already adopted advanced driver assistance systems (ADAS).
The changes are part of NIO's broader strategy to remain competitive in the rapidly evolving EV and smart driving markets.
According to Benzinga Pro, NIO stock has lost over 51% in the past year. Investors can gain exposure to the stock via KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS).
Price Action: NIO shares are trading higher by 1.12% to $4.53 premarket at last check Tuesday.
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