This post was originally published on this site
Chinese electric vehicle company Nio Inc (NYSE:NIO) recently founded a software company in Shanghai, where it has its global headquarters. The subsidiary, named NIO Software Technology Co., Ltd., was incorporated on July 27 in Minhang district, Shanghai city.
The freshly built company is 100% controlled by NIO Technology and is a wholly owned subsidiary of NIO Holding Ltd. Its legal representative is Qin Lihong, co-founder and president of NIO.
It is still unclear what NIO plans to do with the newly incorporated company. However, with a registered capital of 50 million yuan ($7.416 million), NIO Software Technology has a wide businesses scope that includes software development, information system integration service, AI application software development and more. One guess is that NIO may be preparing for the launch of NAD (NIO Autonomous Driving), an assisted driving system.
