Nio is determined to rival Toyota and Volkswagen. To do this, it will create a new generalist electric car brand that allows it to launch more affordable models on the market. William Li, CEO of Nio, pointed out that this new brand will position itself in the same way that Audi-Volkswagen and Lexus-Toyota do.
Child is one of the leading Chinese electric car brands. A very important vehicle manufacturer specialized in electric mobility that has begun its particular process of global expansion. A company that is in a position to play a leading role in this particular electrification process that is taking place in the Old Continent. However, this firm has much more ambitious plans.
William Li himself, CEO of Nio, has confirmed that the company will start up all its machinery with the aim of giving life to a new brand of electric cars that allows it to compete directly with Toyota and Volkswagen. We must bear in mind that Nio deals in the premium market. Its range is made up of luxury vehicles whose price is in accordance with this condition.
Nio will give life to a new generalist electric car brand
The Nio’s main rivals, inside and outside China, are Tesla, Audi, BMW and Mercedes. Now, this Chinese brand is aware of the business possibilities offered by the general market. That is why a new firm is preparing the creation that will be in a position to directly attack the electric cars of Volkswagen and Toyota.
The manufacturer has stepped up preparations to build generalist models under a new brand and has assembled a “core team” as a first step in establishing a strategic initiative. “The relationship between Nio and our new mass market brand will be like Audi-Volkswagen and Lexus-Toyota,” said William Li.
In addition to being able to enter a field that brings together the bulk of new car registrations, the truth is that William Li has set another objective, and that is to be able to improve Tesla in quality, price and service: “We want to offer a better product and service at prices lower than those of Tesla.
This new brand will not have in its portfolio an electric car with such an affordable price as the Wuling Hong Guang Mini EV that, remember, starts from approximately $ 4,500 (€ 3,840). This model, which accounts for a large part of electric car sales in China, is produced by a joint venture between General Motors and SAIC.
Nio continues with its global expansion process
The Nio’s landing in Europe has just started. The creation of a new brand will not mean a stop in the roadmap that the company is following. In the short term it intends to launch a whole series of new models on the market. The first of these will be a sedan, the Nio ET7. At the moment the Nio range consists of the EC6, ES8 and ES6. The model chosen for Nio’s landing on European territory has been the ES8.
In the second quarter of 2021, the brand delivered 21,879 units, representing a growth of 111.78% compared to the same period of the previous year. The company is also allocating large resources to increase its production capacity in order to meet the growing demand.