EV Startup NIO to Launch a New Mass-Market Brand to Rival Tesla with an Annual Capacity of 500,000 Vehicles a Year

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EV Startup NIO to Launch a New Mass-Market Brand to Rival Tesla with an Annual Capacity of 500,000 Vehicles a Year

Electric vehicle startup NIO Inc. aims to launch a new EV brand offering even more affordable vehicles to better compete against the Tesla Model 3 and Model Y in the China market, said CEO and chairman William Bin Li, on Thursday. The sub-brand will have an annual capacity of 500,000 electric vehicles a year.

EV Startup NIO to Launch a New Mass-Market Brand to Rival Tesla with an Annual Capacity of 500,000 Vehicles a Year

2022-06-18 11:03

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