Tech

Chinese EV startup Nio aims to become the Tesla of China

Nio might not be a recognizable identify within the US, however it’s turning into a number one participant in China’s EV market. However the firm has had its fair proportion of issues alongside the best way.

Nio has racked up over $6 billion in prices since beginning in 2014 and was getting ready to collapse in 2020. But it surely has managed to show that round and grow to be the world’s 4th most dear automaker.

Regardless of setbacks because of the coronavirus pandemic, the corporate has continued to develop. Within the third quarter of 2020, it reached $628 million in gross sales and delivered as much as 12,206 automobiles. Nevertheless, the corporate nonetheless has an extended technique to go earlier than it could dominate the Chinese language auto market.

Watch the video to study Nio’s spectacular rebound and whether or not the automaker can grow to be the Tesla of China.

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