Recently, internet users noticed that the "NIO Auto" LOGO on the exterior wall of NIO Auto's Shanghai headquarters had been removed overnight. Photographs circulated showed three workers using ropes from the rooftop and scrapers to clean up the area. In response, NIO Auto stated that the company was relocating due to the expiration of the lease agreement. Earlier speculations had claimed that the installation of the LOGO cost as much as 500 million yuan, but former CEO Zhang Yong had already set the record straight, affirming that the design fee did not exceed 1 million yuan.
