NIO Inc. American depositary shares, each representing one - NIO STOCK NEWS

NIO Inc. has announced the conclusion of an independent internal review regarding allegations made by Grizzly Research LLC in their report dated June 28, 2022. The Independent Committee found that the claims were not substantiated. The review involved third-party professional advisers, including a law firm and forensic accountants. NIO continues to focus on its mission in the premium smart electric vehicle market, emphasizing technological advancements in autonomous driving and battery solutions.

Labaton Sucharow is investigating NIO Inc. (NYSE:NIO) for potential violations of federal securities laws. This follows a Short Seller Report issued by Grizzly Research LLC on June 28, 2022, which contains serious allegations. In response, NIO's board has formed an Independent Committee to oversee an independent investigation into these claims. The investigation aims to determine the validity of these allegations and protect the interests of shareholders who may have suffered losses.

NIO delivered a total of 10,052 vehicles in July 2022, marking a 26.7% increase from the previous year. Cumulative deliveries reached 227,949 as of July 31, 2022. Year-to-date deliveries are reported at 60,879, representing a 22.0% year-over-year growth. Despite this growth, the production of the ET7 and EC6 models faced constraints due to casting part supply issues, although the company is working to improve output in the coming months. NIO also expanded its Power Swap network to 1,047 stations in China, enhancing its service capabilities.

NIO Inc. will hold its annual general meeting (AGM) on August 25, 2022, at 10:30 AM Beijing time, in Shanghai. This meeting will focus on passing proposed resolutions outlined in the Notice of AGM. Prior to the AGM, Class C and Class A meetings will occur at 10:00 AM and 10:15 AM, respectively. Shareholders of record as of July 22, 2022, can attend and vote. NIO's annual report for 2021, including audited financial statements, is available on its website and the SEC's site.

NIO Inc. has announced the formation of an Independent Committee to oversee an investigation regarding allegations made by the short-seller firm Grizzly Research. The committee, comprising independent directors, will work with external advisors, including a law firm and a forensic accounting firm. This decision aims to protect shareholder interests and ensure transparent governance. NIO emphasizes its commitment to corporate governance and plans to update stakeholders on the investigation's progress in compliance with regulatory requirements.

NIO Inc. reported a record high in vehicle deliveries, achieving 12,961 vehicles in June 2022, up 60.3% year-over-year. For Q2 2022, deliveries totaled 25,059 vehicles, marking a 14.4% increase year-over-year. Cumulative deliveries have reached 217,897 vehicles as of June 30, 2022. The company introduced the new ES7 SUV and upgraded versions of its existing models. Deliveries for these new models are expected to start in August 2022.

NIO Inc. (NYSE: NIO) responded to allegations from Grizzly Research, claiming the report is baseless and filled with inaccuracies. The company's board and audit committee are reviewing the allegations to safeguard shareholder interests. NIO emphasizes its commitment to corporate governance and adherence to regulatory standards, promising to provide further disclosures as required. Established in 2014, NIO continues to innovate in the electric vehicle market with technologies like battery swapping and autonomous driving.

NIO Inc. is set to host a Product Launch Event on June 15, 2022, at 8:00 AM U.S. Eastern Time. The event will introduce new offerings in the premium smart electric vehicle market. It will be livestreamed on various platforms including NIO's official site and YouTube. Founded in 2014, NIO aims to innovate in technologies like battery swapping and autonomous driving. With a strong lineup of vehicles including the ES8, ES6, ET7, and ET5, NIO continues to expand its presence and product range in the electric vehicle sector.

NIO Inc. reported total revenues of RMB9,910.6 million (US$1,563.4 million) for Q1 2022, marking a 24.2% increase year-over-year. The company delivered 25,768 vehicles during the quarter, up 28.5% from Q1 2021. However, gross profit fell 6.9% to RMB1,446.8 million (US$228.2 million), leading to a gross margin decrease to 14.6%. NIO recorded a net loss of RMB1,782.7 million (US$281.2 million), a 295.3% increase compared to the previous year. Following strong demand and operational recovery efforts, NIO expects Q2 2022 deliveries between 23,000 and 25,000 vehicles.