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Wednesday, May 22, 2024

Carmaker Nio is ‘well positioned’ to capture a lot of China’s electric vehicle market, analyst says

  • Chinese electric car start-up Nio released its first sedan, the et7 with self-driving technology features that it claims surpass that of Tesla.
  • In its bid to become a leader in electric vehicle technology, China has supported the industry with subsidies, looser restrictions and the building out of charging infrastructure.
  • Homegrown electric vehicle makers including Nio, Li Auto and Xpeng said deliveries surged last year but they are still nowhere close to the number of worldwide deliveries Tesla made in 2020.

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