China's electric vehicle company NIO was awarded Monday the 2018 Red Dot Design Award's top accolade for its vehicle charging system NIO Power Home.

The global e-mobility startup based in China took the first place in the prestigious "Best of the Best" award category for vehicle accessories.

"It's the first Red Dot award NIO has received," said Kris Tomasson, NIO's vice president of design. "It confirms that we are on the right track and that we are fulfilling our goal of being 'driven by design'."

The Red Dot Award is one of the world's largest and prestigious design competitions. The formal criteria for assessment includes innovation levels, functionality, quality, ergonomics and durability.

Three different distinction levels were awarded. The top award, the "Red Dot: Best of the Best" is reserved for the very best products in a category -- a distinction that only 1 percent of entries receive.

According to Tomasson, the NIO Power Home's core is suspended by a lightweight folded-back plate. "Dynamic color lighting indicates the charge status, with vibrant, reflecting and shimmering patterns that bring the charging process to life."

NIO was founded in November 2014, with research and development, design and manufacturing centers in Shanghai, Beijing, San Jose, Munich, London and nine other locations.

The electric carmaker officially launched its first model of ES8, a seven-seat electric SUV, on Dec. 16, 2017 in China, with deliveries slated to begin in 2018.