Nio created a new electric car brand called Onvo in 2024, intending to target the mass market.

After the brand launch on November 21, 2016 in the Saatchi Gallery in London, England, several companies invested in Nio, including Tencent, Temasek, Sequoia, Lenovo and TPG.

[12]: 101  In late April 2020, Nio announced approximately US$1 billion in new funding from a group of Chinese investors,[13] which was needed due to the company's struggles to sell its vehicles.

[12]: 101 In August 2020, Nio launched Battery as a Service (BaaS) and formed a battery asset management company in collaboration with Contemporary Amperex Technology Co., Limited (CATL), Hubei Science Technology Investment Group Co., Ltd. and a subsidiary of Guotai Junan International Holdings Limited, with each contributing roughly US$31.6 million (CN¥200 million) into the venture, for 25% equity each.

[19] In August 2023, Nio Capital led the A-round financing of Mavel, a provider of electric drive solutions.

[20] Nio announced in the same month that they were selected to provide electric cars for Oslo-based taxis in Norway.

In December 2019, Nio launched the EC6, a five-seater electric coupe SUV with deliveries beginning in September 2020.

[27][28] In May 2024, Nio introduced a new brand, Onvo (Chinese: 乐道; pinyin: Lèdào) that targets the mass-market segment.

[32][33] Onvo stands for "On Voyage", while its Chinese name 乐道; Lèdào is meant to evoke a family having a happy time together.

[38] The first phase of its battery swap network was installing 18 battery-swap stations in 14 different locations along the G4 expressway, a 2,273-kilometre-long (1,412 mi) road connecting Beijing (the national capital) with the Pearl River Delta (world's largest urban area[39] where Hong Kong and Shenzhen are located).

[40] The second phase consisted of installing battery-swap stations in 8 locations along the G2 expressway, a 1,212-kilometre-long (753 mi) road connecting Beijing with Shanghai.

[42] On 10 December 2021, Nio installed its 700th battery swap station in China, hitting its annual target ahead of schedule.

[47] On 29 November 2023, Nio and Geely Holding signed similar agreement in the battery swapping sector,[48] as well as with JAC Group and Chery Automobile in January 2024.

In 2021, the 70 kWh battery was replaced by a new 75 kWh LFP-NMC dual chemistry battery, which consists of an undisclosed ratio of serially connected LFP and NMC battery cells assembled in a cell-to-pack format and a special pack management system, and it allows for a blend of each chemistries advantages: the higher energy density, better cold weather charging, and accurate state-of-charge readings from NMC cells, and the lower costs, lower wear, and improved safety from LFP cells.

At the announcement in February 2024, Nio said that each pack cost as much as an entire ET5 at launch, which has a starting price of CN¥ 328,000, or CN¥ 258,000 (approximately US$48,000, or US$38,000) with a battery subscription.

The Nomi Mate 2.0 features a circular AMOLED[58] display and incorporates artificial intelligence with a human face-like interface that swivels and blinks its oval ‘eyes’ to address each vehicle occupant directly, depending on their location.

Nomi learns user preferences over time to understand the specific context of the car in relation to its owner.

For example, Nomi can set the personal seating and steering wheel positions whenever it senses a driver approaching the vehicle.

Users can also give Nomi verbal commands to adjust the cabin temperature, open or close windows, or snap an in-car selfie and have it displayed on the radio screen.

[62] In August 2021, Lin Wenqin, a 31-year-old Chinese man, was killed after his Nio ES8 collided with a construction vehicle.

[63] Though the vehicle's manual at the time clearly stated that the driver must take over when nearing construction sites, there was an issue regarding whether the feature was improperly marketed and unsafe.

Lawyers of the family of the person killed called into question Nio's private access to the vehicle, which they argue could lead to the data being falsified.

[70] On 22 February 2022, it was announced that Nio is planning to venture into China's smartphone market and preparing to make its own handsets.

CEO William Li believes that many competitors will learn from the smartphone innovations, however the primary interest of the automaker is likely to collect user data rather than making the phone a key contributor to revenue.

[96] After studying in Beijing and Utah, Hui Zhang completed his MBA in International Management at Pforzheim University of Applied Sciences in 2002.

Initially, he worked in purchasing and supply chain management at VOITH AG in China and Germany.

This didn't change the team's fortunes, as they would go on to have their worst ever season, with neither Oliver Turvey nor Ma Qinghua being able to score any points in 2020.

In season seven Nio improved marginally, as whilst Turvey and new arrival Tom Blomqvist amassed a total of 19 points throughout the campaign, the squad still remained in last place.

Nio once again changed their driver line-up for the 2021–22 Formula E season, as Blomqvist made way for former Red Bull and Williams junior Dan Ticktum.

[106] In Sep 2018, Nio listed on NYSE after raising about $1 billion selling American depositary shares at $6.26 apiece.