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Nio Shares Rise After EV Maker Announces Autopilot Feature, Faster Charging Options

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Nio Shares Rise After EV Maker Announces Autopilot Feature, Faster Charging Options

Nio Inc – ADR (NYSE: NIO) shares were advancing Monday, buoyed by the electric automaker's announcements at a Chinese auto show over the weekend.

Nio Parades Products, Services: At the Beijing International Auto Exhibition 2020, Nio displayed its EV models, including the EP9, an electric super car launched in 2016; the ES8, its six-seater flagship premium EV model; and the recently launched EC6 SUV.

The company also showcased a Power Swap Station, three types of chargers, NIO Innovations and patents and NIO Life.

As expected, the company announced an upgrade to its smart operating system to Nio OS 2.7.0.

Nio Unveils New Driver Assistance Functionality: Nio also released its Navigate on Pilot feature, which automatically guides the car on ring roads and highways.

"This is the first NIO.com commercial application of high-definition map in China on the ADAS functionality of mass-produced vehicles, which further enhances NIO Pilot's capability," Nio said in a press release.

The company plans to release the feature to users in batches through firmware over the air in October, along with the newest upgrade to its operating system. 

Nio announced 20 new features and function optimizations, including camera-based driver drowsiness detection, remote seat ventilation and 5.1 immersive surround sound mode.

Nio's Faster Charging Options: Nio has added 20 kilowatt-hour DC chargers to the list of destination charging stations to accelerate charging speed in certain scenarios and expand destination charging service coverage. 

This rapid charging facility will be offered under the company's battery-as-a-service offering.

It also announced new Power Up Plan that provides a commitment of 100 million yuan ($14.6 million) subsidy for the deployment of a total of 30,000 destination DC chargers, forming a convenient and flexible charging network covering the country.

NIO Price Action: Nio shares were advancing 1.58% to $18.61 at the time of publication Monday. 

Related Links:

Why Nio Has A Shot At Becoming The 'Tesla Of China'

Nio Shares Volatile After EV Maker Announces Redemption Of 8.6% Nio China Stake

Photo courtesy of Nio. 

 

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