[Is NIO Developing Its Own Batteries? Shanghai Company Adds Battery Manufacturing Business] On May 27, news emerged that, according to information on public platforms, Shanghai NIO Automobile Co., Ltd. recently underwent industrial and commercial changes, adding battery manufacturing, battery sales, and battery parts production to its business scope. The company was established in May 2015, with Qin Lihong as its legal representative and a registered capital of $3 billion. It is wholly owned by NIO Holding Co., Ltd.