The Bavarian business promotion agency “Invest in Bavaria” held an event counting with the presence of many companies developing its business in the region. NIO Europe Vice-President Hui Zhang was representing the EV maker at the event that counted also with managers from Huawei, CATL, Cartax and Bank of China.
The invitation was sent by the Bavarian Ministry of Economic Affairs and count with the presence of the Deputy Minister-President and Minister of Economic Affairs and the Executive Director of Investment in Bavaria. NIO Europe VP commented the Bavaria’s willingness to support “NIO‘s local development” and to create “a better and more stable business environment”.
“NIO and Bavaria, it’s a perfect match. We’ve been in Munich since 2016 and this year sees our new design headquarters open in the north of the Bavarian capital! Very soon, we’ll be rolling out our vehicles and game-changing Power Swap Stations and Battery-as-a-Service (BaaS) in Germany. It’s a hugely exciting time”, Hui Zhang started to say.
Underlining the importance of this relationship, the Bavarian Ministry of Economic Affairs invited NIO to meet with Mr Aiwanger, Deputy Minister-President and Minister of Economic Affairs of Bavaria and Ms Weidmann, Executive Director of Investment in Bavaria this month. Other Chinese organisations present included Huawei, CATL, Cartac and Bank of China.
It was a great opportunity to introduce what we have been doing in the region and explain why our relationship with Bavaria is so important. Notably, NIO is ready to create more economic benefits in the region, offer new jobs and continue to take social responsibility. For the latter, through our CleanPark initiative, we will strive to make a significant contribution to sustainable development, climate and environmental protection in Bavaria as well as the protection of its nature reserves.
Ultimately, I felt the meeting sent a positive message to Chinese companies including NIO, in the region. Bavaria’s willingness to support NIO‘s local development was clear, ultimately creating a better and more stable business environment. We are happy to be part of the journey”, Hui Zhang concluded.
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NIO has its global design center located in Munich, the German city known for its automotive design, primarily responsible for the styling and design of our products. In the autumn of 2014, NIO Founder William Li began traveling between China and Europe to start establishing NIO’s design team.
After meeting with over 100 European designers trying to find the right person to lead NIO’s efforts, William sat down with Kris Tomasson. At that time, Kris was the Head of Exterior Design for BMW i, and what was supposed to be an introductory conversation turned into a three-and-a-half-hour discussion, NIO explained in 2017.
Earlier today, NIO announced that it expects its Class A ordinary shares to be listed and commence trading on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on May 20, 2022.
The shares of the electric vehicle maker hit on Tuesday a new 52-week-low at $12.93, nearly 81% below its all-time-high in January 2021. Despite the recent catalysts – namely the new SUV model NIO ES7, ET7 sedan arriving European Markets and the opening of NEO Park – the stock have been struggling for more than a year.
According to the SEC form published on Monday, the Swiss National Bank has increased its position in NIO by 9.47% during the first quarter of 2022. The Bank disclosed owning 3,595,675 NIO shares valued at $75.69 million as of March 31, 2022. In early February, Swiss National Bank filed a form disclosing 3,284,575 shares by the end of 2021 representing an increase of 9.47 percent.