EVMAGZ
  • Home
  • News
    • Politics
    • Air Mobility
    • Software
    • Battery
    • Rumors
    • Charging
    • Electric Motorcycles
    • Commercial vehicles
    • Autonomous
    • Battery
    • Conversion
    • Sales
    • Concept
  • Brand
    • Tesla
    • Toyota
    • Hyundai
    • Ford
    • Polestar
    • Volkswagen
    • Honda
    • Toyota
    • KIA
    • Nissan
    • Lexus
    • Mercedes-Benz
    • BMW
    • BYD
    • Chevrolet
    • Fisker
  • China
  • Industry
  • Guide
  • Sport
    • Formula E
    • MotoE
  • Photos
  • Videos
No Result
View All Result
EVMAGZ
No Result
View All Result
Home Brand NIO

NIO plans to launch a third electric vehicle brand to cover the low to mid-range market, report says

Linda Ma by Linda Ma
August 1, 2022
in NIO
283 5
0
NIO Car Logo 750x375 - NIO plans to launch a third electric vehicle brand to cover the low to mid-range market, report says
139
SHARES
1.3k
VIEWS
Share on FacebookShare on Twitter

NIO plans to launch a third electric vehicle brand for the low- and mid-range market, according to today's 36kr report.

This third brand will be projected to be priced under RMB 200,000 to be exact between RMB 100,000 ($14,820) – 200,000. The brand will operate independently with an independent head and R&D system.

Hierarchically, the third brand will be positioned by NIO such as Lexus Toyota, Toyota and Suzuki, the report said.

Last year, Ai Tiecheng, former general manager of WeWork Greater China, joined NIO to head up the mass-market-oriented sub-brand company ALPS.

William Li, CEO of NIO said in the company's first-quarter earnings call that the sub-brand's price range is between 200,000 yuan and 300,000 will start production in 2024.

With ALPS covering a market between 200,000 and 300,000, it doesn't touch the market space under RMB 200,000.

Other EV competitors such as Neta and Leapmotor have evaluated models priced at around RMB 100,000 to reach a target of up to 10,000 units per month. Meanwhile the Toyota Corolla and Volkswagen Ranger, are in the price range slightly above RMB. 100,000, the report said.

It seemed logical for NIO to launch an additional new brand if it wanted to capture the market under RMB 200,000, the report said.

The practice of creating sub-brands for certain markets is common in some of the world's automotive manufacturers, such as Toyota with Lexus or Volkswagen with Audi.

Li Auto CEO Li Xiang said in a conference call after announcing first-quarter earnings in early May that the company plans to offer products at every RMB 100,000. But Li Auto doesn't plan to launch a separate brand, said today's 36kr report.

Source: cnevpost
Tags: Chinaelectric vehicleNIOPriceRangetop
Share55Tweet35Pin13
Previous Post

Mitsubishi Fuso start testing the eCanter electric truck in Indonesia

Next Post

Pony.ai and SANY to develop and produce autonomous trucks in new joint venture

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular

tesla cybertruck manufacturing confirmation unit spotted at texas gigafactory 120x86 - NIO plans to launch a third electric vehicle brand to cover the low to mid-range market, report says

Drone Footage Reveals Tesla Cybertruck’s Manufacturing Confirmation Units

by Michael Khan
September 26, 2023
0

tesla cybertruck testing on fremont track 120x86 - NIO plans to launch a third electric vehicle brand to cover the low to mid-range market, report says

Tesla Cybertruck’s Acceleration Tested in New Video Amid Delivery Speculation

by Benedict Mcdaniel
September 23, 2023
0

volkswagen id 4 120x86 - NIO plans to launch a third electric vehicle brand to cover the low to mid-range market, report says

Volkswagen’s ID.4 EV Takes Drivers on a Spacelike Journey with Its Quirky Software Update Sounds

by Casper Benedict
September 25, 2023
0

YT 2025 Kia EV5 Scoop 120x86 - NIO plans to launch a third electric vehicle brand to cover the low to mid-range market, report says

2025 Kia EV5 Electric SUV Captured in Real-World Setting, Impressing with its Sleek Design

by Sibley Presley
September 22, 2023
0

cybertruck 120x86 - NIO plans to launch a third electric vehicle brand to cover the low to mid-range market, report says

Elon Musk Hints at “Next-Level” Performance Cybertruck in Latest Revelation

by Benedict Mcdaniel
September 23, 2023
0

Archives

Tags

Automotive Autonomous Batteries BYD Charging charging station China Commercial Vehicle company electric car electric motor Electric Truck electric vehicle electric vehicles Electrification Energy Europe Fast Charging Fleet Funding General Motors Germany Hybrid Hydrogen Hyundai infrastructure Invest lithium Lithium-ion Model Y North America platform Price Production Range Sales Software Specification Specifications Supply Chain Sustainable technology Truck United States Volkswagen

Menu

  • Home
  • About Us
  • Advertising
  • Support EVMagz
  • Newsletter
  • Privacy Policy
  • Cookie Policy

Categories

Friends

  • Energymagz
  • Smashfreakz
  • Teknowire
  • Tweggo

About Us

Welcome to EVMagz, your ultimate source for the latest news and updates on the electric vehicle industry, sustainable mobility, and green energy.

© 2023 By EVMagz

No Result
View All Result
  • Home
  • News
    • Politics
    • Air Mobility
    • Software
    • Battery
    • Rumors
    • Charging
    • Electric Motorcycles
    • Commercial vehicles
    • Autonomous
    • Battery
    • Conversion
    • Sales
    • Concept
  • Brand
    • Tesla
    • Toyota
    • Hyundai
    • Ford
    • Polestar
    • Volkswagen
    • Honda
    • Toyota
    • KIA
    • Nissan
    • Lexus
    • Mercedes-Benz
    • BMW
    • BYD
    • Chevrolet
    • Fisker
  • China
  • Industry
  • Guide
  • Sport
    • Formula E
    • MotoE
  • Photos
  • Videos

© 2023 By EVMagz

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In