What's Going On With NIO Shares Thursday?
NIO Inc. (NYSE:NIO) shares are trading higher in the premarket session on Thursday.
The upcoming release of the NIO Phone by the Chinese EV maker has been confirmed with its inclusion in a regulatory database.
The 5G mobile phone, identified by model number N2401, obtained China Compulsory Certificate (CCC) certification on July 17, reported CnEV Post.
The manufacturer of the new NIO Phone is Lens Technology, based in Hunan, as indicated by its CCC certificate information.
CCC, China’s mandatory product certification system, has been in effect since May 2002, aiming to safeguard consumer rights through stringent product standards and regulations.
According to Benzinga Pro, NIO stock has lost over 45% year to date.
Investors can gain exposure to the stock via KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:KARS).
The first-generation NIO Phone, with model number N2301, received its CCC certificate on September 15, 2023, CnEVPost noted.
NIO officially unveiled the first-generation Nio Phone during the NIO IN 2023 event on September 21, 2023, with a starting price of RMB6,499 ($900).
Company management has previously indicated multiple times that the NIO Phone would undergo a significant annual update, akin to Apple Inc’s (NASDAQ:AAPL) iPhone.
The upcoming NIO IN 2024 event is anticipated to occur in a week’s time, potentially marking the launch of the second-generation NIO Phone.
The key feature of the first-generation NIO Phone is its integration with NIO vehicles, featuring an action button that allows users to swiftly activate over 30 functions.
These include controlling vehicle features such as adjusting air conditioning settings and activating seat massage functions.
In recent months, NIO has been offering free NIO Phones to customers who purchase its 2024 models, a move aimed at enhancing the appeal of their vehicles.
During a car-owner meetup in Wuhan, Hubei province on March 17, William Li, Nio’s founder, chairman, and CEO, announced that development of the second-generation Nio Phone had been completed and was now in the manufacturing phase.
On July 14, Nio showcased the chassis capabilities of its flagship sedan, the ET9, in a new video, and hinted at the upcoming release of the next-generation NIO Phone.
Price Action: NIO shares are trading higher by 1.31% to $4.65 premarket at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography on Shutterstock
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