NIO builds intelligent driving tech subsidiary in Hefei

Shanghai (Gasgoo)- On June 24, Chinese EV startup NIO founded an intelligent driving technology subsidiary, whose legal representative is Qin Lihong, co-founder and president of NIO.

Dubbed Anhui NIO Intelligent Driving Technology Co.,Ltd., the new company, involves a registered capital of 10 million yuan ($1.548 million) and is wholly controlled by Hong Kong NIO Intelligent Driving Co.,Ltd, according to the corporate data platform Tianyancha. Its business scope extends to cover the sale of new energy vehicles (NEVs), the R&D of auto parts and mechanical equipment, the integration of satellite remote sensing application systems, and Internet information services.

The new company is located in Hefei, capital of Anhui province, where NIO China is headquartered.

On April 29, 2021, NeoPark, a smart electric vehicle industry park at Xinqiao, Hefei, Anhui province, was officially kicked off. NIO is among the largest members of NeoPark, a smart electric vehicle industry cluster encompassing innovative research and development of vehicles, core parts and components, and autonomous driving. With an annual production capacity of 1 million vehicles and 100 GWh battery, NeoPark is expected to realize a gross yearly output of 500 billion yuan ($77.425 billion).

Notably, NIO's second plant, located in the Hefei-based NeoPark, will start vehicle production in the third quarter of 2022 and the construction has already begun, William Bin Li, founder, chairman and CEO of NIO, revealed at the 13th China Auto Bluebook Forum earlier this month.