NIO (NIO) Sees 500,000th Electric Drive System; Unveils First Electric Drive System C for ET5

July 29, 2022 11:46 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

China-based electric vehicle carmaker NIO Inc (NYSE: NIO) saw its 500,000th electric drive system roll off the production line today. NIO’s senior vice president Zeng Shuxiang also announced via an article posted on the company’s app, that the company is celebrating another important milestone. The unveiling of the first electric drive system C sample for the upcoming ET5.

“Today, the first ET5 electric drive system C sample was also officially rolled off the production line at the NIO drive system manufacturing base located in Xinqiao Park,” Shuxiang wrote.

NIO VP also stated that the EV maker “is one of the very few companies in the world with a full-stack self-developed and manufactured electric drive system and the only automaker with independent forward R&D capabilities”.

The company has a new electric drive system production facility in NeoPark, which will pave the way for the production of the new sedan NIO ET5 and future models. The electric drive system production line at NeoPark uses intelligent solutions including 6-axis robots, 3D vision recognition technology, and automated logistics, according to the article.

By Michael Elkin

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot List