The base is expected to include 31 lithium battery testing labs, one lithium-ion cell pilot line and one battery pack line.
- Nio is moving ahead with a new battery R&D base in Shanghai, focused on power batteries.
- Nio’s new Shanghai battery unit, registered with about $14.7 million in capital, is expected to work on advanced battery tech, including solid-state batteries.
- Separately, Nio cut the Firefly’s starting price in Norway to $23,660 through Sept. 30.
Shares of Nio, Inc. (NIO) rose 2% in Hong Kong on Tuesday after the EV maker reportedly moved closer to constructing a new Shanghai battery R&D base, doubling down on its bet on next-gen batteries and solid-state tech.
NIO’s U.S.-listed shares jumped 5% on Monday, logging its best session in over a month.
NIO Shanghai Battery Hub In Focus
Nio is preparing to expand its battery research footprint in Shanghai, with construction of a new R&D base expected to begin in the second half of this year, CnEVPost reported, citing an article published Monday by a WeChat account affiliated with the government of Shanghai’s Jiading district.
The base will focus on power batteries and deepen Nio’s “manufacturing in Anhui, R&D in Shanghai” strategy. The facility is set to include 31 lithium battery testing laboratories, one lithium-ion cell pilot line and one battery pack line.
Jiading is already key to Nio’s research operations. The company’s global R&D headquarters for mass-produced vehicles is located there, and Nio has spent more than a decade building out testing centers in the district covering over 60,000 square meters.
The battery project was formalized in March, when Jiading’s Anting town signed a cooperation agreement with Nio. Around the same period, Nio Battery Technology (Shanghai) Co., a Nio unit, was registered with a capital of about $14.7 million. The new unit is expected to work on advanced battery tech, including solid-state batteries, which will be used in large-scale applications after 2027. Nio has also been exploring oxide and sulfide solid-state battery routes with industry partners and research institutions.
Nio Cuts Firefly Price In Norway
In Norway, the company has rolled out a new Firefly campaign that lowers the compact EV’s starting price to 231,900 kroner ($23,660) through Sept. 30. The offer marks the second reduction from Firefly’s original 279,900-kroner launch price in the country.
Norway gives Nio more pricing room than EU markets since it is outside the bloc’s tariff regime on China-built EVs, helping explain why the cut has not been mirrored in markets such as the Netherlands.
The discount also comes as Firefly becomes important to Nio’s Norwegian volume. The sub-brand made up 28 of Nio’s 43 registrations in May and 27 of 44 in June, with Nio Norway managing director An Ho saying in June that “Norway is a market where we see that the model works well.”
How Do Retail Traders Feel About NIO?
On Stocktwits, retail sentiment for NIO improved to ‘bullish’ from ‘neutral’ a day ago, amid a 330% jump in 24-hour message volume.
One user said, “average battery swaps per day is now over 100k. Short term paid for gaining loyal customers and recurring revenue.”
View this Stocktwits post
Another user said, “There will be no further fig leafs for shorts to hind behind once Nio reveals that BaaS and battery swapping have become huge recurring revenue streams adding to profitability. At that point it is game, set and match for Nio bulls.”
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Nio’s U.S.-listed stock has risen 43% over the past year.
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