NIO sets up software subsidiary in Shanghai

Shanghai (Gasgoo)- Chinese EV innovator NIO recently founded a software subsidiary in Shanghai.

According to the corporate information provider Tianyancha, the newborn company, named NIO Software Technology (Shanghai) Co., Ltd., was incorporated on July 27 in Minhang district, Shanghai city. With a registered capital of 50 million yuan ($7.416 million), the subsidiary has a line of businesses including software development, information system integration service, AI application software development, etc. Its legal representative is Qin Lihong, co-founder and president of NIO.

Photo credit: NIO

The freshly built company is 100% controlled by NIO Technology (Anhui) Co., Ltd. Information from Tianyancha shows that the parent is a wholly-owned subsidiary of NIO Holding Ltd., the legal entity of NIO China, which is headquartered in Hefei city.

It is not clear yet what NIO will do with the newly incorporated subsidiary.

At an earnings call held after NIO released its first-quarter financial results, the EV startup revealed, since the scale delivery of the ET7, it had made fast iterations and released more smart features via the FOTA (firmware over-the-air) upgrades on a continuous basis. It has introduced over 200 new features on the NT2.0 platform with next-generation voice interaction and emotion technologies.

Besides, NIO disclosed then, in the third quarter of this year, it would launch the NOP+ (Navigation on Pilot Plus) driver assistance system based on the HD map co-developed with Tencent.