Nio is now in Singapore... but not to sell cars

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Nio is now in Singapore... but not to sell cars Nio is now in...

Nio is now in Singapore... but not to sell cars

Leow Ju Len

20/05/2022

Nio electric cars at SGX Centre in Singapore

You can’t buy a Nio EV in Singapore just yet, but you can buy the company…

SINGAPORE — Chinese electric car company Nio is now on the Singapore Exchange (SGX), so two of its cars are at the Singapore Exchange.

Today marks the start of trading for Nio’s shares on the SGX, and the company is displaying two milestone models at SGX Centre on Shenton Way until June 10th.

The two cars are the ES8 (below, right), a large electric sport utility vehicle (SUV) with either six or seven seats, and the EP9, a track-only two-seater electric sportscar with 1,000kW of power, or 1,360 horsepower. That makes it roughly 10 times as powerful as the average family sedan here.

Nio’s debut on the SGX is something of an occasion: it’s the first carmaker on the exchange, but also makes Nio the first auto company to list on three bourses. Nio shares also trade in Hong Kong and New York.

Then again the eight year old car company, which assembled its 200,000th car in April, is used to doing things in unique fashion. Its cars have hot-swappable batteries that are automatically changed in minutes while drivers wait in the cars. It offers a Battery-as-a-Service option that lowers the upfront cost of buying the cars.

If you’re bullish on the way Nio operates, you’re not the only one. The company’s shares surged 20 percent within hours of making their debut on the SGX.

READ MORE: The latest on CarBuyer

About the Author

Leow Ju Len

CarBuyer Singapore's original originator, Ju-Len in person is exactly how he is on the written word and behind the wheel. Meaning that he darts all over the place and just when you thought he's lost the plot, you realise that it's just you not keeping up with his incredible rate of speed and thought.

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