Nio

Nio was founded in November 2014 by William Li, a prominent entrepreneur often referred to as the 'Elon Musk of China.' Initially named NextEV, the company first gained international fame through its Formula E racing team and the EP9 supercar, which broke several track records for electric vehicles. In 2017, the company officially launched its first mass-market vehicle, the ES8 SUV, marking its transition into a full-scale automotive manufacturer. Following a successful IPO on the New York Stock Exchange in 2018, Nio faced a period of extreme financial distress in 2019 due to a combination of vehicle recalls and a general slowdown in the Chinese auto market. The company was saved in early 2020 by a $1 billion investment from a group of investors led by the municipal government of Hefei, which resulted in Nio establishing its China headquarters in the city and stabilizing its production capabilities. Since 2021, Nio has rapidly expanded its product portfolio and geographic footprint. It introduced its second-generation technology platform (NT2.0), featuring advanced LiDAR and the 'Adam' supercomputing system. The company began its international expansion in Norway in 2021, followed by entries into Germany, the Netherlands, Denmark, and Sweden. Today, Nio continues to invest heavily in its proprietary Power Swap Station network and R&D for autonomous driving and battery technology.