Chinese EV maker Nio steps up plans for mass-market brand to compete with VW, Toyota

Nio ET7 at 2021 Shanghai auto show — A Nio ET7 electric sedan is seen displayed during the 2021 Shanghai auto show in April. (REUTERS)

By:

Reuters

August 12, 2021 07:51 AM

BEIJING -- Chinese premium electric vehicle maker Nio, which now counts Tesla, BMW and Audi as rivals, is working on a mass-market brand that will be positioned similar to Volkswagen and Toyota.

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