https://wccftech.com/nio-is-planning-to-launch-a-smartphone-to-rival-the-iphone-as-all-time-high-ev-deliveries-for-q1-2022-add-to-the-investor-euphoria/

NIO (NYSE:NIO), one of the largest electric vehicle manufacturers in China, is about to add a sizable tech premium to its valuation as it gears up to launch its own smartphone.

We had noted persistent rumors around NIO's smartphone plans in a dedicated post back in February. Well, the company's CEO William Li just confirmed those rumors on a talk show, as per the reporting by the China-based news outlet, Sina. Nonetheless, NIO's CEO conceded that the project was still in the research stage and that persistent demands from NIO's customers for a smartphone that would offer seamless connectivity with the company's EVs constituted the primary stimulus behind this move. Bear in mind that William Li recently identified Apple as the company's major competitor. In light of today's development, this pronouncement makes sense.