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.