Nio holds a product occasion in Shanghai on Sept. 21, 2023.
Evelyn Cheng | CNBC
BEIJING — Chinese language premium electrical automobile firm Nio mentioned Thursday it plans to disclose its mass market model in Might.
Executives confirmed the brand new model might be named “Le Dao” in Chinese language, and mentioned the title is supposed to replicate households — the goal shopper section — having a cheerful time collectively.
Nio, based in late 2014, has up to now targeted on the upper finish of the market with SUVs and sedans that may price greater than Tesla’s Mannequin S or Mannequin Y, however include a collection of companies resembling entry to person clubhouses referred to as Nio Homes.
Month-to-month automobile deliveries, nonetheless, have remained modest versus the fast development of some opponents.
Earlier this month Nio mentioned its mass market model would debut within the second quarter, with the primary product launch within the third quarter and large-scale deliveries the next quarter.
One other Chinese language electrical automobile startup referred to as Xpeng mentioned final summer time it plans to develop a brand new mass market model that may goal the 150,000 yuan ($20,580) worth vary. The corporate mentioned it will develop the model by a strategic partnership with Didi.
