Xiaomi and NIO officially announced on March 16, 2020, that they have reached an agreement on the Xiaomi MI Smart Watch link up with NIO Automobile. The Xiaomi Smart Watch allows operation of car control functions from anywhere. The NIO car owner only needs to download and install the NIO App in his Xiaomi Watch to enable smart remote control.
The agreement and collaboration between Xiaomi and NIO reflect the important role of smart wearable devices in cross-border cooperation. Smart watch is the key to practicing the concept of full-contact of services A ring. The latest 2019 global wearable market reported released by IDC reported that Xiaomi has become the world’s second-largest as well as China’s largest smart wearable brand last year.
The NIO App enables users to display vehicle nicknames on Xiaomi Smart Watch; quickly view vehicle information such as current driving status, current power, remaining battery life; view status of various NIO vehicles; visually show opening and closing of vehicle doors, windows, and trunk. As an example, it can show abnormal tire pressure and remind the owner to have it adjusted.
The car owner can also remotely operate the doors, windows, and air conditioner. The Xiaomi watch can also provide remote car search functions to help the user find his car by sound and light, triggering continuous whistling and flashing lights. This is a handy feature when the car owner forgets his parking space or cannot find his car in the parking lot.
NIO has two models: ES8 and EC6 scheduled for delivery this year. More intelligent functions such as NFC may be supported by the Xiaomi watch in the near future.
Li Bin once said that NIO’s business model is based on user experience. The biggest difference between NIO and other car manufacturers is that “some companies only think about cars, but NIO puts people first.” Compared with traditional car companies, NIO is better at marketing than selling cars.
Last February, NIO completed US$ 200 million in convertible debt financing. At the launching ceremony of NIO’s EC6 mass production project, it was announced that the Chinese headquarters project is going to be located in Hefei. The epidemic has affected NIO’s sales. Official data reported that NIO delivered a total of 707 vehicles in February, a year-on-year decrease of 12.8%. However, according to the statistics of the Federation, NIO performed better than the broader market, and its market share rose to 0.28% in February, which is four times the figure from the same period last year.
The slight rise in market share notwithstanding, the global stock market turmoil has not spared the company as its stock price has shown signs of decline in recent months. As of press time, NIO has fallen by more than 7.2% in the past week, and NIO has spared no efforts to launch self-help through cross-border activities.