EV Brand NIO Responds to Rumors It Will Enter Smartphone Industry

Leaks have emerged recently claiming Chinese electric vehicle firm NIO intends to enter the mobile phone industry. The reports allege that NIO has already formed a smartphone business division and is recruiting various personnel in the Qianhai Zone, Shenzhen. A Weibo user with username “@Laoban Lianbo” learned from sources on Tuesday that NIO is determined to start a mobile phone business, and that the project is currently in the initial research stages. Regarding the news, NIO responded that there is no information to disclose at present, and that further details will be communicated with media and customers.

Previously, several automobile manufacturers have decided to invest in offshoot smartphone businesses. In September last year, Geely Holding Group issued a document saying that its founder and Chairman Li Shufu has determined it will start a smartphone business. Li aims for the business to offer high-end services and to be open to the world. On September 28, 2021, Hubei Xingji Times Technology Co., Ltd., was founded by Li. The new company signed a strategic cooperation agreement with Wuhan Economic and Technological Development Zone, officially announcing its entry into the mobile phone industry.

In January this year, rumors circulated in the market that Geely Group’s mobile phone company was in contact with smartphone brand Meizu to discuss the acquisition. Geely Holdings refused to comment, saying that the R&D of high-end mobile phones led by Xingji Times is progressing in an orderly manner. They also hope to build open and integrated ecological partnerships.

At the same time, certain prominent mobile phone manufacturers have announced plans to enter the auto industry. Xiaomi has announced that its first vehicle model is expected to be launched in 2024, and it is an open secret that Apple will build cars in the future.

Source: Pandaily