Chinese electric car manufacturer Nio will soon launch a new ‘mass-market’ sub-brand that will arrive as a a lot more affordable alternative to Nio’s premium market cars. 
In a recent statement, the company’s CEO, William Li, said: “The relationship between Nio and our new mass-market brand will be like that of Audi-Volkswagen and Lexus-Toyota.”

Pure-electric and autonomous NIO ET7 saloon unveiled

Li also expressed an ambition for his new sub-brand to undercut and outperform Tesla, saying: “We want to supply better product and service at prices lower than Tesla.”
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Nio has only just started its development on the European market, with the recent launch of the ES8 SUV and ET7 saloon in Norway. The brand hasn’t yet made a step on the UK, but the firm has hinted that it’s a possibility if there’s enough interest. However, Nio has not revealed or hinted at any plans to bring its upcoming sub-brand over to Europe as well. 
Currently Nio’s automobiles are positioned towards the premium end of the market, with prices for the ET7 saloon starting from the equivalent of around £51,000 in China. The ES8 starts from about £54,000.
The announcement comes as the firm reveals its incomes for the second quarter of 2021. The company delivered nearly 22,000 automobiles during the period, representing around a 112 percent increase year-on-year.
Nio is also working on expanding its innovative battery-swap network, with plans to a lot more than double its current capacity from 361 stations to a lot more than 700 by the end of 2021, as it moves into the European market. 
By 2025, Nio aims to go global with the technology, with 4,000 stations worldwide.
Now read all the current news on Nio’s expansion into the European market by clicking here…