Nio Stock Breaking News! China's Top Exec Chooses Nio

Nio (NYSE: NIO) has started delivering its executive flagship sedan, the ET9, its highest-priced model to date, putting its latest technologies, especially its in-house developed autonomous driving chip, into the hands of users.

The first owner of the ET9 is Fang Hongbo, or Paul Fang, the chairman and CEO of Chinese home appliance giant Midea Group, based in Foshan, Guangdong, who previously test drove the electric vehicle.

Nio founder, chairman and CEO William Li went to Foshan to personally deliver the vehicle to Fang, according to a short video shared by Li on Weibo today.Li said on Weibo that he and Fang discussed how Chinese brands can enter the high-end market and break the dominance of foreign brands in the market.

They also talked about the topic of preventing employees from working inefficiently in terms of company management, according to Li.

Li did not mention the date on which he delivered the vehicle to Fang, but it seems to have been yesterday, when he said on Weibo that he took a flight from Shanghai to deliver ET9 to its first owner.

Nio said on Weibo later today that the deliveries of ET9 officially began on March 29, and the car saw deliveries in many cities in China.The ET9 is the first model to be equipped with Nio's in-house developed Shenji NX9031 autonomous driving chip based on a 5 nm process.

Nio unveiled the chip at the Nio Day 2023 event, and announced at a technology day event on July 27, 2024, that the chip had seen successful tape-out.

Currently, Nio's main brand models come standard with four Nvidia Orin chips, and the total computing power of the smart driving system is 1,016 TOPS.

Its sub-brand Onvo's first model, the L60, uses one Nvidia Orin X chip with a computing power of 254 TOPS.

Nio has not announced the specific computing power of the Shenji NX9031 chip, but previously said that it is equivalent to four mainstream smart driving chips. It puts two Shenji NX9031 chips on the ET9.

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