Stocks of Chinese electric car manufacturers Wei Lai (New York Stock Exchange: NIO) In Friday’s rise, it was one day ahead of the company’s new model announced at its annual event for car owners and fans. As of 12:15 p.m. Eastern Standard Time, NIO’s American Depositary Shares have increased by approximately 8.1% from Thursday’s closing price.
NIO’s annual “NIO Day” event is a gathering of owners and fans, where the company usually showcases new products and upcoming new technologies. NIO tells us (some) expectations for the exhibition to be held in Chengdu tomorrow:
- A new car. The new model is expected to be very similar to the ET Preview concept car launched by NIO in 201
- Bigger battery. NIO will launch a new 150 kilowatt-hour (kWh) battery pack tomorrow. This is much bigger than you might think. So far, all NIO production vehicles are equipped with modular battery packs. These battery packs can be exchanged in and out at automated stations, and the owner can upgrade to a larger battery (providing a larger range) after purchase or as part of a battery exchange service subscription. As of today, the largest NIO battery pack has a rated power of 100 kWh and can travel 615 kilometers (approximately 380 miles) in the brand’s best-selling EC6 battery. The new packaging will represent a nice upgrade.
- New driving technology. NIO will also show a new version of its advanced driver assistance system, and I hope it will become standard for new cars.
How to do
Automotive investors who want to comply with NIO Day should check the company’s website for details. But please note that if you are in the United States, you must wake up early because the event is scheduled to start at 5:30 AM Eastern Time.