ClearMotion secures order from EV maker Nio for suspension technology

By MarketWatch

ClearMotion, which makes road sensing software to improve suspension in vehicles, said it had secured a production order from global electric vehicle company NIO.

The production order is for three million units of ClearMotion's patented suspension technology which will be used to equip NIO (NIO) electric vehicles.

ClearMotion was founded out of MIT and has locations in Boston in the U.S., Birmingham in the U.K., and Shanghai, China. The company's software works by adapting the vehicle to the road surface and effectively canceling unwanted motion.

The order from NIO is ClearMotion's first official production order and will be first to market on their flagship ET9 vehicle. This deal pave's the way for safer and more enjoyable driving experiences, the company said.

See also: Nio stock jumps as Abu Dhabi investor to pour in $2.2 billion

"NIO is at the forefront of innovation, and its decision to be the first manufacturer to bring ClearMotion1 to consumers reinforces its ability to put revolutionized electric vehicles into the hands of drivers," said Christian Steinmann, CEO of ClearMotion.

In 2023 ClearMotion raised $35 million and reached over 500 patents in its intellectual property portfolio.

"When developing the cars of the future, we need to build them for the drivers and passengers of the future," said William Li, CEO of NIO. "The ClearMotion1 system delivers a fundamentally better in-cabin experience that is directly in line with what our customers desire when driving and charging their electric vehicle."

-MarketWatch

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12-23-23 0831ET

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