Nio

This is the first project to begin implementation since Nio and FAW Group announced a strategic partnership framework agreement a month ago.

Nio's new order flow is estimated to be around 22,000 units as it extends its "demo car" discount in June, analysts at Deutsche Bank said, citing dealer feedback.

The Hamburg-based Nio House, which opened on June 20, is Nio's fourth in Germany and eighth in Europe.

Cheche expects to launch a customized digital insurance service system for Nio in the third quarter.

In the long term, if local sales reach a certain level, say 100,000 units, local production should take place, Nio CEO William Li said.

The main benefit of using end-to-end technology is that it accelerates NOA coverage in urban areas, as it can cover corner cases that are not fully covered by rules.

Nio officially launched the Onvo brand on May 15, and began pre-sales of the Onvo L60 with a price of RMB 219,900 ($30,300).

Xpeng had 2,100 insurance registrations last week, Li Auto 10,500, Zeekr 4,100 and Leapmotor 3,400.

Mirattery, Nio's battery asset operator with more than 10 GWh of battery assets under management, has entered into a strategic partnership with Newrizon, a Nio Capital-backed company.

Nio is starting preparations for Nio IN 2024, which will be held in either Shanghai or Beijing, according to an executive.