The first phone to control your electric car in the worldz
The electric car company Nio launched a smart phone with its name, which has several innovative technical features that allow the user to control their car easily and safely. Among these features, the ability to use the phone as a remote control device to guide the car to a special parking spot or to drive itself to the user’s location, where the CEO William Li, who is one of the most enthusiastic about the project, revealed the new Nio phone highlighting its new features that allow the user to unlock the car by phone even if it is locked. The user can also communicate via the phone with several cars from the same company with one device.
The Chinese market for electric cars
Nio’s move comes amid growing demand for electric cars in China, which is the largest car market in the world. Statistics indicate that about a third of car sales in China are electric cars, which benefit from government support and environmental encouragement. Nio aims to outperform its competitors by offering high-quality products and technical innovation.
Nio’s phone is the first car-specific phone sold by a Chinese company,
Nio’s phone has more than 30 functions related to the car, and opens new horizons in communication technologies. William Li said, “I think many of our competitors will learn from our innovations in smartphones.”
There are 3 models of the phone, ranging in price from $890 to $1030, and are currently sold only in China, and delivery operations start from September 28.
However, the company’s plans to launch the phone raised concerns among some investors, as Nio doubled its investments in advanced technologies for key components of the device such as chips and batteries, despite increasing losses.
The financial challenges for Nio
But despite Nio’s ambition, it faces huge financial difficulties, due to the high costs of development and production. Nio recorded a net loss of 6.12 billion yuan (about $839.51 million) in the second quarter, compared to a loss of 2.75 billion yuan ($376.26 million) in the same period last year. Some investors believe that Nio is risking increasing its investments in technology without guaranteeing a rewarding return. Therefore, Nio needs to prove its ability to attract more customers and increase its market share.
Nio sold more than 94,000 cars in the first eight months of this year, an increase of 31.9% compared to the same period last year, exceeding the overall growth of electric car sales in China.