Chinese electric car startup company NIO is expanding its existing headquarters in the U.S. The Tesla Inc (NASDAQ:TSLA) rival has taken up a vacant property just next to its existing headquarters in North San Jose and is starting construction. The County documents have revealed that the formerly known NextEV Company is planning to prepare a 100,362-square foot building in the neighborhood of its existing office.
NIO to hire skilled people for its San Jose office
Previously, the property belonged to Broadcom Corp, a chip making company and even before that, it was owned by Hitachi Systems. NIO occupied its current 85,017-square-foot, two-story building at 3200 N. First St. in 2015. According to the website of the Chinese company, currently, NIO has leased more than 187,000 sq.ft. property in San Jose. Around 520 people are working with NIO in the city and recent documents reveal that the company is planning to hire highly skilled people for its office at the San Jose location.
The global headquarters of the company is located in Shanghai; however, San Jose is its headquarters and center for software development. Padmasree Warrior, the former chief of Cisco Systems technology is the head of the San Jose office. Interestingly, NIO has already started processing offering of its initial stock in the U.S. even though its vehicles are yet to hit the market of America. The stock offering is expected to come in early fall or late summer this year and is estimated to raise around $2 billion.
NIO & Robert Bosch agreement to focus on cooperation in technology
According to reports, the strategic cooperation agreement between NIO and Robert Bosch GmbH, a German electronics and engineering company will focus in the areas of automated driving, sensor technology, intelligent transport systems, and electric motor controls. The agreement was signed by the two companies in Germany’s Berlin city. Incidentally, the signing ceremony became big news as the Prime Minister of China, Li Keqiang and the Chancellor of Germany, Angela Merkel attended it.
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Prior to this agreement, the two companies first cooperated on the NIO ES8 project that focused specifically on the key components such as control units, driver assistance systems, the intelligent iBooster, and sensors.