China’s Nio aims to take on Volkswagen, Toyota with new brand By Reuters
BEIJING (Reuters) - Chinese premium electric vehicle maker Nio Inc, which now counts BMW and Audi as rivals, is working on a mass-market new brand that will be positioned similar to Volkswagen (DE:VOWG_p) and Toyota, its CEO said. The automaker had stepped up preparations to make mass-market products under another brand https://www.reuters.com/article/us-nio-china-idUSKBN29G06C and a "core team" had been assembled as a "first step of a strategic initiative", Chief Executive William Li said on Thursday. "The relationship between Nio and our new mass-market brand will be like that of Audi-Volkswagen and Lexus-Toyota," Li said, without specifying...
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