Some of you may be familiar with the Chinese electric car brand Nio, while others may not be. For those who are not familiar, Nio is a Chinese company that produces electric cars, with its headquarters located in Shanghai. In the following, we bring you a new update regarding the company's future plans, specifically focusing on its strategies for the electric car market.
In addition to focusing on the production of electric cars, we also know that the company develops battery-swapping stations for its vehicles, and this innovation serves as an alternative to conventional charging stations. Well, this is not Nio's new strategy that we will discuss further.
From what we know, Nio, as a Chinese premium electric car company, intends to launch its mass market brand in May. Yes, you understood correctly, practically the company is preparing a new brand. Until now, Nio has primarily concentrated on the higher end of the market with SUVs and sedans, offering services like access to user clubhouses known as Nio Houses. Among the electric cars the company has produced so far, we must specify that the catalog includes models such as the Nio ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring. Of these, the first five are SUVs and the last three are sedans. Additionally, the new model Nio ET9, presented last December, is planned to be delivered in the first quarter of 2025.
When we see all these models and plans from Nio, then we are even more curious to see what plans the company has for its mass market brand in May. The mass market brand will be named Le Dao in Chinese, signifying a focus on families and happy times together. While Nio has experienced growth, its monthly car deliveries have remained modest compared to some competitors. Because of this, we can understand why the company wants to launch a new brand and reposition itself in the market. The mass market brand's first product launch is scheduled for the third quarter, with large-scale deliveries expected in subsequent quarters.
It's possible that this move by the company towards the new Le Dao brand could be a positive one, but even in this case, they face competition. Another Chinese electric car startup, Xpeng, plans to develop a new mass market brand targeting the $20,580 price range, in partnership with Didi.
Overall, Nio's announcement of its mass market brand, Le Dao, reflects a strategic shift towards catering to a broader consumer segment with affordable electric vehicles.
Source > cnbc.com