Nio Inc (NYSE: NIO) on Monday confirmed it had completed building its Vehicle Pilot Center in China's Hefei, a site where the company’s upcoming models will begin their pilot builds.
What Happened: Shanghai-based Nio said the Hefei facility was completed last month and its first vehicle rolled out from the site on March 16.
“In 2022, in addition to the ongoing ET5 build, multiple new models will start their pilot build at this site. The vehicle pilot center will support the fast development and high-quality launch of Nio's new products,” the EV maker said.
Nio shared images of the facility and some employees posing next to a newly built ET5, its second sedan offering.
See Also: Nio's William Li Says EV Maker On Track To Break Even In 2024 Amid Rising Chip, Raw Material Prices
Why It Matters: Nio in January said it rolled off the ET5 sedan prototypes off its production line in Hefei. The update came just a month after the company revealed the ET5 on its annual day in December.
Last month, Nio said deliveries for the mid-size sedan would begin in September and could hit other markets in 2022.
The company also announced plans to expand to Germany, Netherlands, Sweden, and Denmark this year.
Price Action: Nio stock closed 8.7% higher at $23.85 a share on Monday.
Photo courtesy: Nio
