NIO Eying to Enter Pakistan
China’s premium electric carmaker Nio is set to tap the volume vehicle segment by launching an all-new marque as new energy vehicles see their popularity rise in Chinese as well as key global markets, China Daily reported.
According to Nio founder and CEO William Li, the company is preparing to make mass-market products under another brand for which a core team has been established already. Li said:
“The relationship between Nio and our new mass-market brand will be like that of Audi & Volkswagen as well as Lexus & Toyota.”
Currently Nio compete against premium brands including Audi, BMW and Mercedes with its range of premium electric vehicles (EVs). As per company’s plans, it aims to provide better product and service at prices lower than that of Tesla but will not produce pint-sized electric cars such as the popular Wuling Hongguang.
Nio will be offering more affordable models in its new marque and will reportedly launch three models in 2022, with one of them to have the lowest price of all Nio-branded models. Li has not given a detailed schedule about the new marque’s launch however according to its website, Nio aims to launch its volume brand within the next 2 years in 20 countries including Pakistan as shown in the map pictured below.