The Chinese company Nio, which is known for its electric cars, will produce smartphones.
Nio registered the Nio division on August 4Mobile Technologies Co Ltd with a starting capital of $100,000,000. The company was co-founded by Nio President Qin Lihong. Nio Mobile Technologies Co Ltd, as well as its automotive division, will be headquartered in Shanghai.
There is no release date for the company’s first new product yet, but they say that the gadget will be released in 2023. By the way, Nio will follow in Apple's footsteps and release smartphones once a year.
Let us remind you that recently the Chinese car manufacturer Geely acquired Meizu. The company will now also produce smartphones.
Source: СNEVpost</ p>