NIO upgraded the service a year ago, and more than 3,000 consumers have used it in the past year. | [eod_live target="NIO.US" title="NIO US"] | [eod_live target="9866.HK" title="NIO HK"] | [eod_live target="NIO SG"]
(Image credit: NIO)
NIO (NYSE: NIO) first mentioned its vehicle rental service called NIO Subscription at its NIO Berlin European launch event last October.
Now the company appears to be using the same name for the service it offers in China to unify its brand image.
NIO marked the one-year anniversary of its upgraded vehicle rental service with a post on its mobile app today, and used the words "NIO Subscription" in a poster.
As a background, NIO has been offering car rentals for the past several years, but it hasn't received much attention, and on April 6, 2022, NIO upgraded the service.
In the previous car rental service offered by NIO, the monthly cost was fixed at RMB 9,888 ($1,440). In the upgraded service, each car is rented at a different price and the cost is reduced each month.
In the case of an ES6 SUV produced in 2020 with 34,000 kilometers on the road, a user can rent it for RMB 7,114 in the first month and RMB 6,661 in the 12th month, according to NIO's announcement last year.
This amount decreases month by month to RMB 4,684 in the 60th month.
Since the launch of the upgraded service, more than 3,000 consumers have experienced it, NIO said today.
To date, the service is available in 20 cities, including Shanghai, Beijing, Xi'an, Wuhan, Chengdu and Guangzhou, NIO said.
In 2023, the service will expand to an additional 10 cities, according to a poster by NIO.
($1 = RMB 6.8815)