Nio

Nio will start mass production of a model called ES7 in June 2022, under the previously revealed project codenamed Gemini, mydrivers.com reported Monday.

The floods in Germany this year affected the supply of air suspension shock absorbers, thus affecting Nio's production capacity this month.

Nio delivered 7,931 vehicles in July, up 124.48 percent year-over-year and down about 2 percent from June.

CMB International raised its price target for Nio by 13.6 percent to $52.6 per ADS, maintaining a buy rating. Nio closed up 4.83 percent to $44.68 on Friday and the price target implies an upside of about 18 percent.

Nio will launch its first lifestyle magazine, Nio House, on Aug. 1, going further down the road of providing more services to its customers than just vehicles.

This includes 11 battery swap stations, 7 supercharging stations, and 17 destination charging stations.

BYD was ranked No. 9, Nio No. 15, and Li Auto No. 19. Xpeng Motors did not make the list.

Nio announced Friday that it will release its unaudited financial results for the second quarter of 2021 after the close of the US markets on August 11 (August 12 Beijing Time).

An EC6 in Shanghai's Pudong New Area was badly damaged after hitting a barrier stone pier at high speed just after 5 a.m. on July 30, resulting in the tragic death of the user, Nio said.

Vehicle development for the Nio sub-brand is already underway in Hefei, with Nio product planning director Yu Bin already involved in the sub-brand business and several headhunters beginning to recruit for the brand, the report said.