NIO Charges Ahead: Reportedly Partners With SAIC Motor's IM Motors, Expands Dominance In China's EV Market

NIO Inc. NIO shares are trading slightly higher in the morning session on Thursday.

NIO’s charging network now reportedly includes SAIC Motor Corp‘s EV unit IM Motors, as local automakers seek to capitalize on one of China’s largest EV charging networks, CnEV Post reported.

The report added that on May 30, Nio Power, NIO’s energy arm, and IM Motors forged a partnership to link their charging networks, citing Nio’s recent announcement on its mobile app.

Consequently, IM Motors users can access and utilize NIO’s charging stations through the IM Motors App or the car’s onboard charging map.

IM Motors’ software will provide real-time access to Nio’s charging piles, enabling users to view location, price, status, and usage details. Additionally, users can carry out operations like scanning QR codes, charging, and making payments seamlessly through the platform, CnEV Post added.

As of May 30, Nio boasts one of China’s largest charging networks, comprising 3,863 stations and 22,551 charging piles, the report added.

Following GAC Aion’s Hyper brand earlier this month, IM Motors becomes the second EV manufacturer to tap into NIO’s charging network.

Price Action: NIO shares are trading higher by 0.71% to $4.965 at last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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