Nio Shortlists Hefei And 2 More Cities For Hosting Nio Day 2021: What You Should Know

The host city for a key market-moving event for Nio, Inc. - ADR NIO — Nio Day 2021 — could be announced anytime soon, according to the latest update from the EV giant.

What Happened: Nio has zeroed in on Hefei, Suzhou and Xi'an as contenders for hosting the annual Nio Day event for 2021, the CnEVPost reported, citing the company.

Nio users will now vote on the shortlisted cities presented by the company on the Nio App. The voting window is open between July 23 and 24.

The company will decide on the venue based on the votes each of the cities receives in the voting round.

Related Link: EV Stock 2021 Halftime Scorecard: Tesla Bogged Down By China Worries, Nio Underperforms And More

Why It's Important: Nio shares ran up to a record high earlier this year just after Nio Day 2020, held Jan. 9 this year. Nio Day 2020 was pushed back to 2021 due to limitations presented by the COVID-19 pandemic.

The company has thus far hosted four Nio Days, at which it has made several key product and services-related announcements. The company unveiled its ET7 sedan at the Nio Day held in January.

The Hefei city is the capital of the Anhui province in China, where Nio China is headquartered. It is the local government of Hefei that helped the company when it was facing a severe financial crunch in the second half of 2019. Since then, the company has initiated many projects here, including the construction of a smart EV city named Neo Park.

Suzhou is a city situated west of Shanghai, China's business capital. It is the economic center and an industrial and logistical hub of the Jiangsu province.

The Xi'an city is the capital of the Shaanxi Province in central China.

Nio shares, which saw some slackness this year after peaking in January, has picked up some momentum in June.

The stock closed Friday's session down 0.98% at $50.40 but is up 3.4% for the year-to-date period.

Related Link: Nio, XPeng Clock Record June Deliveries: Which EV Maker Outperformed?