Nio Registers Trademark For High-End EF9 Supercar: Report

Even as NIO Limited's NIO stock goes through a volatile phase, the Chinese electric vehicle startup appears razor-focused on its customer-centric approach to garner both mind and market share.

What Happened: Nio has registered with the China National Intellectual Property Administration a model trademark for a pure-play multi-purpose vehicle codenamed EF9, local Chinese news outlets reported, citing a filing with China National Intellectual Property Administration.

The new model will likely cater to the high-end market, the report said.

The prefix EF is used for Nio's supercars, and the EF9 is likely to be pitched against Toyota Motor Corporation's TM Alpha or possibly the Lexus LM, the report said. 

Related Link: Nio, XPeng File For Hong Kong Listings: Report

Why It's Important: To survive and flourish in a crowded EV market, Nio has been concentrating on innovation and services.

Nio has three models on the market: the ES6, ES8 and EC6.

Nio unveiled its first sedan, the ET7, at the Nio Day event held in January. The sedan is expected to be commercially available in 2022.

The company, which primarily focuses on the high-end market, has been sounding out its intention to dip its heel in the low-end market, albeit under a different brand name.

Further details on the EF9 could be announced at the company's next Nio Day.

Nio is expected to release its March and first-quarter deliveries update Thursday. Last week, the company trimmed its forecast for the first quarter, citing chip supply shortages. 

NIO Price Action: Nio shares were up 1.68% at $38.18 at last check Wednesday. 

Related Link: Chip Shortage Caught Nio Off Guard: Report

Photo courtesy of Nio.