TSLA - NIO Plans Organizational Changes At Onvo Sub-brand: What's Going On? | Benzinga
NIO Inc. (NYSE:NIO) shares are trading lower in the premarket session on Tuesday.
The Chinese electric vehicle manufacturer unveiled its most recent organizational reshuffle, which encompasses its various businesses, including the sub-brand Onvo, CnEV Post reported.
The company stated that this move is essential for its business and organizational advancement, the report read, citing an internal letter.
The electric vehicle (EV) manufacturer has rebranded several units formerly identified as “Strategic New Businesses”:
- Strategic New Business I is now referred to as the Onvo division (OV).
- Strategic New Business II has been relabeled as the Chip Development unit (CD).
- Strategic New Business III has undergone a name change to become the ...