Nio said on Wednesday that shareholders approved the reappointment of its auditor at the company’s annual general meeting held in Shanghai earlier in the day.
The sole resolution on the agenda was to reappoint PricewaterhouseCoopers (PWC) as the auditor for the current fiscal year.
Shareholders of the Shanghai-headquartered EV maker also authorized the board to fix the auditor’s remuneration, according to documents filed with the U.S. Securities and Exchange Commission.
The reappointment comes at a time when PwC is facing heightened scrutiny and internal shakeups across Greater China.
Earlier this month, Bloomberg reported that the firm has been dealing with the fallout from its auditing of China Evergrande Group, prompting a wave of partner departures.
At least 10 more partners are expected to exit PwC’s Hong Kong operation in the coming weeks, adding to more than 20 who have already left in recent months — the report said.
In mainland China, 77 partners have stepped down since December, based on filings with China’s accounting regulator.
The turbulence follows a 441 million yuan ($61 million) fine levied last year on PwC China by Chinese authorities for failing to detect inflated financial data in Evergrande’s reports between 2018 and 2020.
The resolution was “duly passed,” Nio confirmed in a Form 6-K submitted Wednesday.
PwC China is also the auditor of XPeng and Li Auto, two other U.S.-listed Chinese carmakers.
Under Nio’s weighted voting rights structure, each Class A ordinary share carries one vote, while Class C shares—largely held by company founder and CEO William Bin Li—carry eight votes each.
Nio’s board remains unchanged, with Bin Li serving as Chairman and CEO.
Other directors include co-founder Lihong Qin, non-executive members Eddy Georges Skaf and Nicholas Paul Collins, and four independent directors: Hai Wu, Denny Ting Bun Lee, Yu Long, and Yonggang Wen.
As reported earlier on Wednesday, Nio has launched a new subscription offer in Germany that lets customers return their vehicle after six months with no penalty.
Among others, Nio will enter the Portuguese and Belgian markets later this year. In Portugal, sales are planned to begin in the final quarter of the year, according to the distributor JAP Group.
Over the next 18 months, both brands will also arrive in Greece, Cyprus and Bulgaria besides the already announced Austria, Belgium, Hungary, Luxembourg, Poland, Romania and the Czech Republic.
In May, Nio Group delivered 23,231 vehicles globally, with just 58 units registered across its five European markets — accounting for only 0.25% of total deliveries.
