Nio Begins Prepping For Nio Day 2021: What We Know So Far

The catalyst that drove NIO Inc. NIO shares to an all-time high of $66.99 earlier this year was Nio Day 2020 on Jan. 9. The stock has pulled back since then and is currently trading roughly 40% off the highs.

Against this backdrop, it has emerged that the company has started laying the groundwork for the next Nio Day.

What Happened: Nio posted on its Nio App that cities can now start bidding for hosting Nio Day 2021, a Nio spokesperson confirmed to Benzinga.

The bidding process as explained by CnEVPost is as follows:

The applications on behalf of the host city should be submitted by local Nio Clubs, and if a city has more than one Nio Club, a joint bid can be made.

Nio mandates a potential host city should not have hosted Nio Day in the past eight years.

The city should have an indoor venue with a seating capacity of more than 8,000 and available for hosting 10 consecutive days sometime between Dec. 1, 2021 and Jan. 15, 2022.

The company has provided a time window of June 4 through June 8 for submitting an intent to apply. After conducting preliminary surveys in shortlisted cities from June 9 to June 15, Nio will start receiving applications.

Following the evaluation of applications, the company will shortlist three cities on July 3 and present the list on the Nio App, allowing Nio users to vote July 23 and 24. The final winner will be decided based on the votes.

Related Link: Nio Vs. XPeng: How Chinese EV Duo's May Deliveries Stack Up

Why It's Important: Nio Day is an annual event for Nio users and other guests. The company has been hosting the event since 2017 when the first Nio Day was in Beijing, where its first mass-produced model, the ES8, debuted.

Nio Day 2020 was held in Chengdu on Jan. 9, 2021. The annual event meant for 2020 was pushed to early 2021 due to the COVID-19 pandemic. The company unveiled its first-ever sedan, named ET7, at the event. It also made product and service-related announcements.

Several rumors have surfaced regarding a mass-market model from Nio under a different brand name. The company could shed some light on this at Nio Day 2021 event.

With the ET7 scheduled to be made available commercially in the first quarter of 2022, the company could share more details on the sedan and its launch plans.

Nio users may also look ahead to more details on the company's recent expansion into Norway.

At last check Friday at publication, Nio shares were rallying 2.81% to $42.05.

Related Link: Tesla Vs. Nio Vs. XPeng Vs. Li Auto: How EV Regulatory Credits In China Stack Up

(Photo: Nio)