Chinese EV Maker Nio To Announce New Rapid Charging Service Friday

Close on the heels of bigger rival Tesla Inc TSLA announcing breakthrough developments at its Battery Day, Chinese EV maker Nio Inc – ADR NIO is gearing up for unveiling product enhancements this Friday.

Nio's Charging: Nio will announce at the forthcoming Beijing International Automotive Exhibition 2020 an upgrade plan for its destination rapid charge service, a company spokesperson confirmed to Benzinga.

More details will be released during the press conference scheduled between 9:40 a.m. and 10 a.m. Beijing time, Saturday, the spokesperson said.

This service is part of Nio's Battery-as-a-Service offering the company announced in late August, TheTradable.com reported, citing a company statement through its WeChat account.

"The strategy is being built to further enhance the simplicity of the NIO energy system and enable all electricity consumers to enhance their charging experience, Nio said.

Upgrade to OS: Nio is also expected to announce its navigating function Navigate on Pilot, or NOP, the National Business Daily reported. The NOP feature is an aid for drivers to cruise through scheduled routes. Additionally, the company will announce an upgraded operating system – Nio OS 2.7.0.

Nio closed Tuesday's session at $19.23, up 2.23%

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