Chinese electric vehicle maker NIO, one of the country’s most promising new names in the domestic EV segment, recently achieved a new milestone. On December 12, 2022, NIO’s 300,000th car rolled off the production line at the company’s Second Advanced Manufacturing Base.
NIO has seen growth in its production speed and capacity, especially considering that the company only produced its first EV in May 2018. This year, NIO began delivering cars from its second-generation product platform, such as the ET7, ES7, and ET5. In the first half of 2023, NIO plans to launch five additional models to meet customer demand, according to a press release.

It should be noted that NIO achieved its third 100,000-vehicle milestone in just seven months. This hints that NIO is hitting its stride. NIO’s 200,000th production vehicle was completed on April 26, 2022, almost four years since the company started its vehicle production.
According to NIO co-founder and President Qin Lihong, the penetration rate for high-end EVs in China is expected to double or even triple in the future. With this growth in mind, NIO will also begin producing cars for the mid-level mainstream market.
Being a new automaker, NIO has been busy expanding its presence. In 2022, it became the first automaker to be listed on the US, Hong Kong, and Singapore stock exchanges. In October, NIO also started providing service and delivering its ET7 model in Germany, the Netherlands, Denmark, and Sweden.

The electric vehicle maker has also established an innovation center in Berlin and an AI and autonomous driving R&D center in Singapore. The company has no plans of slowing down, either, because by 2025, NIO plans to serve users in over 25 countries and territories.
As it expands its global footprint, NIO continues to expand its service and sales network worldwide. As of December 12, the company operates 395 NIO Houses and NIO Spaces, 1,263 Power Swap Stations, and 12,785 charging piles. NIO’s vehicles also have access to over 998,000 third-party charging stalls.
Watch NIO’s video celebrating its 300,000-vehicle milestone below.
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Elon Musk
Memphis to use xAI taxes for neighborhood improvements: “Truly a blessing”
City officials confirmed that the funds will be reinvested in local neighborhoods near xAI’s Colossus supercomputer.
The City of Memphis has collected all taxes owed by Elon Musk’s xAI before the payment deadline, creating a $3.2 million special revenue fund to support communities affected by the company’s operations.
City officials confirmed that the funds will be reinvested in local neighborhoods near xAI’s Colossus supercomputer.
Directing xAI funds toward community projects
Mayor Paul Young’s administration recently outlined how the funds will be allocated. The initiative was focused on improving infrastructure and quality of life in neighborhoods impacted by xAI’s construction and operations.
Councilwoman Yolanda Cooper-Sutton emphasized that the process will include public input, with surveys already distributed to residents to guide spending priorities, according to ABC24.
“With that ordinance, we are in the near future getting ready to set up the committee because this is the people’s money,” Cooper-Sutton said. “We wanna make sure that it is used for the people.”
Officials noted that they are planning to present a final proposal to the entire council after reviewing community feedback. Cooper-Sutton added that the program represents a step toward ensuring businesses operating in Memphis treat residents “fairly and with equality.”
“It is truly, truly a blessing. What we are doing here at this body and this council, we wanna make sure that whatever business that comes here, that the people are treated fairly and with equality,” she stated.
xAI partnership fuels local job opportunities
Beyond tax revenue, xAI’s growing presence is expected to bolster Memphis’ workforce development goals. Earlier this month, the artificial intelligence startup co-hosted a job fair at Crosstown Concourse with the American Job Center to connect residents with new employment pathways.
“We know that jobs are coming. We know that talent is here,” Melody Freemon, executive director of the Greater Memphis Workforce Development Board, stated. “We wanna make sure we’re not just putting people in any ole jobs. We wanna put people on a pathway to self-sustainability. We wanna put people on a pathway to self-sustainability and something they can rely on in the future.”
Freemon also noted that the Greater Memphis Workforce Development Board was able to make a favorable offer to xAI. “We promised that we can provide a pipeline. This is the central hub for connection. This is where job seekers are, so let us take the headache off of your hiring needs. Come here, let us source the people and make sure that we meet the demand,” Freeman stated.
News
The Boring Company’s self-driving Teslas impress riders with smooth, hands-free rides
The electric vehicles, which currently shuttle visitors between key destinations on the Strip, could soon extend service all the way to the airport.
Tesla’s Full Self-Driving (FSD) system is making waves underground. Passengers who recently rode in The Boring Company’s Las Vegas Loop described the experience as “way smoother than a human driving,” with no manual input from a driver at all.
The electric vehicles, which currently shuttle visitors between key destinations on the Strip, could soon extend service all the way to the airport.
Controlled FSD testing
In late August, Las Vegas Convention and Visitors Authority CEO Steve Hill stated that Tesla’s FSD-equipped vehicles have been undergoing testing in the Boring Company tunnels for several months. These tests are conducted under strict supervision and have not involved regular passengers until recently.
Recent comments about the Boring Company’s driverless Teslas were shared on X by @alifarhat6_ali, who was able to try out the service for himself. As per the Tesla enthusiast, FSD drives much smoother than human drivers inside the Boring Company Las Vegas tunnels. The safety monitor also reportedly noted that the service should soon expand to the airport.
“I rode in the new self driving Tesla in the Las Vegas Loop! It was WAY smoother than a human driving in the Loop. Zero human input. It wasn’t busy so he let us ride back as well. Driver said they soon will be giving rides all the way to the airport. We are in the future,” the X user wrote in a post.
Elon Musk hints at fully driverless Teslas
Earlier this month, Elon Musk posted on X that “The Tesla cars operating in The Boring Company tunnels under Las Vegas will be driverless in a month or two.” This suggests that the Boring Company tunnels in Las Vegas may end up being one of the first locations where actual driverless Teslas will be serving regular customers.
In a way, the deployment of fully driverless Teslas could be perfect for the Las Vegas tunnels. The underground environment should be ideal for Tesla’s autonomous software as it offers predictable routes and traffic, minimal external hazards, and stable lighting conditions that benefit sensor performance.
Elon Musk
Tesla CEO Elon Musk’s $1T pay package gets candid synopsis from Jim Cramer
Tesla’s $1 trillion pay package, which it proposed to Shareholders to vote on November 6 for its CEO Elon Musk has drawn a lot of attention lately.
Among those vocalizing their thoughts and feelings about the incentive program are proxy firms, investment analysts, and retail shareholders.
However, one analyst that always seems to draw some attention, especially when it comes to things related to Tesla and Musk, is Mad Money host Jim Cramer, who routinely puts his opinions out into the public realm when it comes to the company and its CEO.
Last week, Cramer gave a short breakdown of what he thinks the company and its shareholders should do on the social media platform X. He’s gone deeper into the pay package conversation with a candid synopsis of where he stands with it.
Cramer is no slouch when it comes to breaking down companies and what their strengths and weaknesses are.
He recognizes Musk and his contributions to Tesla, especially in terms of its prowess as an automaker, an AI play, and a robotics entity. In his more lengthy breakdown of the mentality behind rewarding Musk, he writes:
“Then there’s Musk. He’s using AI to make the best full self-driving car. He’s using it to dominate the Robotaxi game, or at least try. There’s no doubt that he’s got the best self-driving alternative on a price basis…Musk has put AI to the test, and he recognized that if you could develop better and bigger, and stronger batteries, that might be the answer for our energy-starved country…”
This is essentially an echo of what he said last week, which included some of the same ideas. Musk is ultimately the right man for the job, Cramer believes, especially considering the analyst calls him one of the few CEOs who is “actually worth it,” in terms of his potentially massive payday:
“Hate him or like him, man, this guy’s real smart…I think that Musk, who says he needs to be in control so the robots don’t take over, clearly wishes he had two classes of stock so he could be like Mark Zuckerberg, who can do whatever he wants with Meta. I say, even though he didn’t start the company and therefore doesn’t have the two classes, give the man the pay package he wants. Unlike so many other CEOs, he’s actually worth it.”
Tesla shareholders will vote on the package on November 6, but a handful of proxy firms have already noted that they will be going against it. Institutional Shareholder Services (ISS) and Glass Lewis both voted not to offer Musk this pay package.
Musk called them “corporate terrorists” last week during the company’s Q3 Earnings Call.
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