On October 14th, Southern Finance and Economics reported that according to the Tianyancha App, NIO Mobile Technology Co., Ltd. has undergone a business change recently, with the addition of mobile terminal device manufacturing (branch operation) business to its business scope. NIO Mobile Technology Co., Ltd. was established in August 2022, with Qin Lihong as the legal representative and a registered capital of 100 million US dollars. It is wholly owned by NIO Smart Technology Limited, a subsidiary of NIO. According to media reports, in August 2023, NIO founder, chairman, and CEO Li Bin revealed that the launch of mobile phones would help increase the competitiveness of cars. Recently, the new generation NIO Phone was officially released.