Alps is targeting the family car market priced between RMB 200,000 ($28,000) and RMB 300,000, according to local media.
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Nio needs to continue to improve its financial performance to support the company's sustainable growth, and has a responsibility and obligation to put every penny of investor and shareholder money to good use, Li said.
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Insurance registrations for major EV makers in China fell significantly last week, as the beginning of the year and the start of the month are typically low for deliveries.
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The facilities allow vehicles to charge during low electricity use and discharge during peak times, helping to smooth the load on the grid and provide financial rewards for vehicle owners.
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Nio's hardware chief Bai Jian has confirmed that he's taking over the phone business, and hinted that the Nio Phone may use the company's own image signal chips.
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The shake-up of the phone team doesn't mean the business will stop, and Nio will launch at least 3 generations of smartphones, according to local media.
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The front wheels of the Nio ET9 prototype move up and down at high frequencies, while the two water-filled glasses placed at the front of the car remain stable.
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Despite its early-mover advantage, Nio's growth momentum could remain soft on relatively fewer new model launches given its mature product portfolio vs. peers, Goldman Sachs said.
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In December, 17,700 Nio vehicles were registered for insurance in China, 17,300 for Xpeng and 76,000 for Tesla.
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As of January 2, the notes had an aggregate principal amount of $301,448,000 outstanding.
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