NeoPark is an electric vehicle industrial park promoted by NIO and Hefei Municipal Government, they jointly announced the official start of construction of NeoPark on April 29, 2021.
The second NIO plant is NeoPark's first project, and the first model produced is the NIO ET5, which will start shipping at the end of September.
NeoPark covers an area of 11.3 square kilometers and is expected to be able to achieve an annual capacity of 1 million vehicles and an annual battery capacity of 100 GWh with an initial investment of 50 billion yuan, William Li, NIO founder, chairman and CEO, said when he announced about the beginning of the construction of the park last year. It is worth noting that NeoPark is not an exclusive NIO fleet and these vehicles and battery capacity are not NIO's planned capacity for itself.
Once NeoPark is completed, NIO will be able to save 3,000 yuan per vehicle on logistics costs, Li said at the time, adding that at present, the average mileage of all NIO vehicle logistics is 901 kilometers, far less than that of Mercedes-Benz and BMW.
According to the announcement, Hefei aims to become one of the world's leading gathering places for the smart electric vehicle network with an annual output of more than 500 billion yuan after the completion of NeoPark and gather more than 50,000 talents from all over the world.