This story is the second of a two-part look at China’s electric vehicle market. Read part one here.
Here’s a look at Nio, a homegrown electric vehicle startup with ADSs listed in the U.S.; another domestic player, Xpeng, which is reportedly eyeing a U.S. listing; and Tesla, which is nurturing a strong Chinese ambitions.
Nio: A Homegrown Contender
Nio, or Weilai in Chinese, meaning “Blue Sky Coming,” was founded as Nextev in 2014. It took on its current nameplate in July 2017.
- EP9 – launched in 2016
- ES8 – first volume-manufactured EV, unveiled in December 2017 and made available to the public in June 2018
- ES6: launched in December 2018; deliveries began in June 2019
- EC6: This model was unveiled to the public Dec. 28 and will be made available in September 2020.
The ES6 comes in three variants and is priced between 358,000 yuan to 468,000 yuan.