Nio's Car-Making Qualification Has Been Officially Approved, Report Says_老虎社区_美港股上老虎

Nio's Car-Making Qualification Has Been Officially Approved, Report Says

CnEVPost2024-04-15

Nio's independent car-making qualification has been officially approved, and the company has started producing and delivering EVs under its own name, local media said.Nio's independent car-making ...

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The companies announced on December 5, 2023 that Nio would purchase the two factories in a deal valued at RMB 3.16 billion ($436 million).Production costs are expected to drop by about 10 percent after Nio acquires JAC's factory assets and takes full control of the manufacturing process, William Li, Nio's founder, chairman, and CEO, said in a December 5 third-quarter earnings call.China requires local carmakers to have qualifications issued by economic planner the National Development and Reform Commission (NDRC) to produce vehicles under their own brand names.Nio, which previously had no such qualification, used the JAC's qualification and paid for contract production.The day before the plant asset acquisition deal was announced, Nio entered China's Ministry of Industry and Information Technology's vehicle production enterprise credit information management system, meaning it will be able to produce vehicles under its own name.A regulatory catalog dated December 8 last year showed that Nio had re-filed for all eight of its models -- the ES8, ES7, ES6, EC7, EC6, ET7, ET5 and ET5 Touring.The core specifications of these models remain unchanged, with the biggest changes being that the manufacturer's name has been changed from the previous JAC to Nio, and the JAC logo on the rear of the vehicles has been removed.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}