China’s Ministry of Industry and Information Technology (MIIT) is accelerating a new Five-Year Plan for smart connected new energy vehicles. The policy focuses on technological breakthroughs and integrated vehicle-cloud infrastructure to benefit manufacturers like NIO.
MIIT regulators conducted on-site inspections at NIO’s Anhui manufacturing facilities on July 30 and 31. This industry-wide quality and safety review involves testing vehicle and battery samples while strengthening oversight of radical innovative designs.
NIO’s battery asset operator, Mirattery, successfully issued the world’s first EV battery-backed REIT on the Shanghai Stock Exchange. NIO’s US-listed shares traded slightly higher in Friday’s pre-market session despite the news of regulatory inspections.