NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against NIO, Inc. (“NIO” or the “Company”) NEVER and some of his officers. The class action, filed in the United States District Court for the Southern District of New York and filed number 22-cv-07666, is on behalf of a class consisting of all persons and entities other than the defendants who purchased or otherwise acquired NIO securities between August 20, 2020 and July 11, 2022 inclusive (the “Class Period”). Plaintiff is pursuing claims against Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”).

If you are a shareholder who purchased or otherwise acquired NIO securities during the class action period, you have until October 24, 2022 to ask the court to appoint you as lead plaintiff in the class action. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this promotion, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, ext. 7980. Persons inquiring by email are asked to provide their mailing address, telephone number and the number of shares purchased.

[Click here for information about joining the class action]

NIO designs, develops, manufactures and sells intelligent electric vehicles. It claims to differentiate itself through technological breakthroughs and innovations such as: B. its battery swapping technologies (i.e., Battery as a Service) and proprietary autonomous driving technologies, including Autonomous Driving as a Service.

The Complaint alleges that during the Class Period, the Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) NIO generated revenue from the sale of batteries to a related party that owned the batteries and managed users’ subscriptions; (2)…