Founded in November 2014 by William Li, Nio Inc. entered China’s electric vehicle market with a focus on performance and user-centric services. Its flagship ES8 seven-seat SUV launched in 2017, followed by the ES6 five-seat SUV, EC6 coupe-SUV, and ET7 executive sedan, offering power outputs exceeding 400 kW and ranges up to 615 km (China CLTC). Nio pioneered battery-as-a-service (BaaS), decoupling battery ownership from the vehicle purchase to reduce upfront costs and enable battery swapping at dedicated stations in under three minutes. By the end of 2023, Nio had delivered over 250,000 vehicles and expanded into European markets, including Norway and Germany. Interesting note: Nio’s NIO HOUSE experience centers combine showrooms, co-working spaces, and dining facilities, exemplifying its holistic brand approach to mobility.