Shanghai introduces a ¥10,000 subsidy for Electric Vehicles, NIO raises it to ¥15,000

Written by Cláudio Afonso |

Regarding Shanghai’s Action Plan for Accelerating Economic Recovery and Revitalization, the Government announced on Sunday a new subsidy for new energy vehicles of ¥10,000 ($1,493).

The EV maker NIO is raising the amount by 50% up to ¥15,000 ($2,240) from June 1 until the end of the year, according to NIO’s General Manager in Shanghai. The NIO Pilot selection package is included with the replacement SUV model. If the ET7 is replaced, the Moon kit will be given away, NIO added.

Earlier this month, Guangdong’s government announced a ¥10,000 (US$1,493) subsidy in May and June to the consumers buying a new electric vehicle. For those buying a petrol car, the Government unveiled a ¥5,000 subsidy.

On Friday, SPDR Portfolio Emerging Markets ETF filed a NPORT-P form disclosing ownership of 1,054,925 shares of NIO valued at $22,206,171 USD as of March, 31. By the end of Q4 2021, SPDR was holding 906,251 shares of NIO (as disclosed in February) at a value of $28.71 million representing an increase of 148,674 shares and 16.41 percent during the first quarter of the year.

As of May 29, NIO has 739 institutional owners and shareholders holding a total of 574,122,789 shares. Largest shareholders include Baillie Gifford & Co, BlackRock, Vanguard Group, VWIGX, State Street Corp, Goldman Sachs Group, VEIEX, and Susquehanna International Group.

According to the local media Yicai, NIO is recruiting people for manufacturing-related positions in the U.S. suggesting the intention to build a factory in the country. The job vacancy shared requires the candidate to have 10 years or above experience in blueprint planning and design of OEMS.

The company opened on Saturday, its 48th NIO House located in Zhuhai Valentine Bay, province of Guangdong in Southern China. The EV maker has currently 47 NIO Houses across the globe and opened its first European one in Oslo (Norway), back in September 2021. NIO Houses are an open, welcoming space for our users and community to express, share and experience memorable moments together, the company states.

NIO unveiled on Wednesday that will start building its second European Battery Swap Station on May 30. The station will be located in Vestby (Norway) and will be a hub for customers travelling between the Norwegian capital Oslo and Gothenburg, Sweden.

According to what NIO‘s Communication Specialist in Norway Asbjørn Mitusch told local media, the EV manufacturer will open three new NIO Houses in the Nordic country. In the third quarter, NIO will open the second space in Bergen after arriving Oslo in 2021. The other two showrooms are located in Stavanger and in Trondheim and will open in the fourth quarter of 2022, as confirmed by Mitusch.

Written by Cláudio Afonso |