NIO is building a R&D Center in Singapore, where it looks into smart power solutions & autonomous driving technologies, said Lawrence Wong.
A Singaporean deputy prime minister visited a NIO House in Shanghai today, the first senior local official to visit the electric vehicle (EV) maker since it went public on the country's stock market.
Lawrence Wong, Singapore’s Deputy Prime Minister and Minister for Finance, tweeted today that he visited NIO and saw its next-generation battery technology.
"NIO is building a R&D Center in SG, where it looks into smart power solutions & autonomous driving technologies. Had a fruitful conversation & I wish NIO all the best in its EV journey in SG," Wong wrote.
Wong shared a picture that shows William Li, the founder, chairman and CEO of NIO, accompanying him on his tour.
"NIO team is honored to welcome Singapore Deputy Prime Minister and Minister for Finance Mr. Lawrence Wong and Singaporean government officials for a visit and further discussion at NIO House | Shanghai Tower today," the EV company said in a retweet.
NIO team is honored to welcome Singapore Deputy Prime Minister and Minister for Finance Mr. Lawrence Wong and Singaporean government officials for a visit and further discussion at NIO House | Shanghai Tower today. #NIO #PowerSwap #BlueSkyComing #EV #Sustainability https://t.co/Zz2lhuMlUT
— NIO (@NIOGlobal) May 15, 2023
On May 20, 2022, NIO was listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST), becoming the first Chinese automaker to list in three locations.
NIO announced at the time that it would establish an artificial intelligence and autonomous driving R&D center in Singapore. The company has already established R&D centers in Beijing, Shanghai, San Jose, USA, and Europe.
"We will also leverage Singapore's advantageous position as an international financial and technology center. By collaborating with science and research institutions and establishing NIO's R&D center for AI and AD in Singapore, we will further broaden and enhance our global R&D footprint," Li said at the time.
NIO made a secondary listing in Hong Kong by way of introduction on March 10, 2022, and the listing in Singapore was its second secondary listing.
NIO is currently down 2.89 percent to S$8.07 in Singapore. It closed down 2.46 percent to HK$63.50 in Hong Kong today.
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