NIO (NYSE: NIO) Responds To Tesla’s Battery Day Announcements by Unveiling a New Power Up Plan Along With a Version Upgrade of Its Drive Assist Functionality

NIO (NYSE:NIO) had been playing on the backfoot ever since Tesla (NASDAQ:TSLA) unveiled sweeping plans to overhaul its battery architecture at the much-predictable Bombardment day event before this week. Today, NIO has clapped back past announcing a new "Destination Rapid Charging Service" – dubbed the Power Upwardly Plan – at Beijing International Automotive Exhibition 2020.

#NIO launched Ability Up plan to install 20kW Power Home Plus at 30,000+ destinations in China with 100 one thousand thousand RMB investment for local business concern partners.

— NIOtime (@theniotime) September 26, 2020

This rapid charging facility will be offered nether the ambit of NIO'southward Battery every bit a Service (BaaS) offering which allows users to hire their EV'southward entry-level 70KWh battery pack past paying simply RMB980 ($141) per month as the BaaS subscription fee. This subscription option slashes RMB70,000 ($10,116) off the purchase of ES8, ES6, and EC6 models, thereby, making these EVs more affordable.

It should be noted that NIO already offers a variety of charging solutions (detailed on S-65 and Southward-66 of the prospectus) to its customers. These include a dedicated dwelling charging solution, called the Power Home, besides every bit a battery swapping service, dubbed Power Swap. Additionally, NIO also offers a mobile charging solution, called Power Mobile, whereby an EV may be charged through a armada of charging trucks. Moreover, the Ability Express is a 24-hour facility bachelor on-demand to NIO customers whereby EVs are picked up, charged, and so dropped off at a pre-chosen spot. Finally, NIO customers can as well access China'southward network of 214,000 charging stations.

NIO is also one of 20 Chinese companies and organizations that have now signed a declaration on edifice an Eco-circle for the "Trunk-to-Battery Separation" Model applicable to New Energy Vehicles (NEVs). Equally a refresher, the battery swap model envisions centralized and shared battery charging, storage, and broadcasting services, creating cost-cutting benefits for EV players in Red china. Acquit in heed that this model is uniquely suited for China where the fast charging infrastructure is withal chronically under-developed.

At the event held within the purview of the exhibition, NIO besides unveiled OS 2.7.0 version upgrade of its Navigate on Airplane pilot (NOP) assist functionality.

Of course, these developments follow another milestone today when NIO commenced the deliveries for its EC6 SUV that was revealed earlier on the 24th of July.

Today, we officially began delivery of the EC6, our 5-seater premium electric coupe SUV. #BlueSkyComing #NIOEC6 pic.twitter.com/WDXRjQldw2

— NIO (@NIOGlobal) September 25, 2020

As per the details, the newest NIO offering has a drag coefficient of only 0.26 and can accelerate from 0 to 100 kph in 4.5 seconds. The EV's standard 70 kWh battery pack offers a range of 440 km. On the other hand, the 100 kWh battery pack offers a range of up to 615 km. Moreover, the loftier-end version of the EC6 is expected to cost around 526,000 yuan ($77,000).

Source: https://wccftech.com/nio-nyse-nio-responds-to-teslas-battery-day-announcements-by-unveiling-a-new-power-up-plan-along-with-a-version-upgrade-of-its-drive-assist-functionality/

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