Electric vehicle maker Nio Inc NIO reportedly plans to build a budget EV factory in the Chinese city of Chuzhou in the eastern province of Anhui.
The company has been planning to roll-out more affordable EV products under new brand names after 2024, Reuters reported.
The EV projects are given code names, including “Alps” and “Firefly.”
Chinese EV manufacturers are gearing up to boost their portfolio as EV penetration rises rapidly.
Also Read: Never Mind Tesla’s Dismissal — China’s Nio Presses Ahead With This Massive EV Power Solution Plan
Price Action: NIO shares are trading lower by 1.08% at $10.08 in premarket on the last check Tuesday.
Photo Via Company
The company has been planning to roll-out more affordable EV products under new brand names after 2024, Reuters reported.
The EV projects are given code names, including “Alps” and “Firefly.”
Chinese EV manufacturers are gearing up to boost their portfolio as EV penetration rises rapidly.
Also Read: Never Mind Tesla’s Dismissal — China’s Nio Presses Ahead With This Massive EV Power Solution Plan
Price Action: NIO shares are trading lower by 1.08% at $10.08 in premarket on the last check Tuesday.
Photo Via Company
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