Nio

NIO was founded in 2014 in Shanghai by William Li, also known as the 'Elon Musk of China'. The company went all-in on premium electric vehicles with a unique battery-swapping service — allowing drivers to exchange a depleted battery for a full one in under five minutes. NIO's ES8 SUV launched in 2018 and immediately challenged Tesla's dominance in China's premium EV market. The brand has since expanded into Europe with its own network of NIO Houses — a fusion of showroom, lounge and community space.