Nio Incorporates Mobile Tech Subsidiary By Investing.com

Nio Incorporates Mobile Tech Subsidiary

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By Michael Elkins

William Li, Nio’s co-founder and CEO, told Nio (NYSE:NIO) users on July 28 that the company would develop and launch a new smartphone for its vehicle owners every year. According to data provider Qichacha, Nio incorporated its mobile subsidiary on Thursday.

The new company named Nio Mobile Technology, was incorporated with a registered capital of $100 million naming Qin Lihong, co-founder of NIO, as its legal representative.

The company is wholly owned by NIO NEXTEV LIMITED and is allowed to operate in information integration, mechanical equipment R&D, mobile device sales, AI application R&D, and wearable device sales.

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