GAC Nio

Earlier this month, a company originally formed by Changan and Nio announced the completion of a new round of financing that reduced Nio's stake to less than 1 percent.

GAC Nio, a joint venture between GAC and Nio, will soon change its name and will likely not include the word "Nio," according to yicai.com.

GAC Nio was established on April 10, 2018, with GAC Group and GAC New Energy each holding 22.5%, Nio and Nio Fund each holding 22.5%, and the remaining 10% of shares held by the founding team.

Liao Bing, founder and former CEO of Chinese automaker GAC Nio, has launched a new new energy vehicle brand, "Ziyou Auto", which literally means "Free Auto".

Liao Bing, the CEO of GAC Nio, a joint venture between GAC Group and Nio, announced on Weibo today that he has officially resigned as CEO of GAC Nio and all executive positions in its subsidiaries and branches.

When the system detects the driver's abnormal health status, it will regulate the health status of the driver through human-machine interaction.

Liao Bing, the CEO of GAC Nio, a joint venture between GAC Group and Nio, announced his impending departure at a staff meeting on January 7, jiemian.com said, citing insiders close to the company.

Industry expert says that the capital market has become more and more cautious about investing in new car companies in recent years and that it is still difficult to get recognition from the capital market without good sales performance despite the backing of well-known shareholders.

After the completion of the capital increase, GAC Group and its wholly-owned subsidiary GAC Aion hold a total of 25% equity in GAC Nio.

Hours after releasing a statement Thursday afternoon Beijing time that it will be the first car company in China to accept Bitcoin payments, GAC Nio has apologized for it.