Nio sets focus on mass-market

Chinese premium electric car manufacturer Nio plans to establish its own brand to compete on the mass market. This will put the company in direct competition with manufacturers such as Volkswagen and Toyota. „The relationship between Nio and our new mass brand will be similar to that between Audi and Volkswagen, or Lexus and Toyota,“ company CEO William Li announced. Up until now, Nio, as a premium manufacturer of SUV vehicles ranging in the price range of equivalent to around 40,000 euros, mainly built cars for the same target group as Audi, BMW or Tesla.