Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
A Billion People Are Now Part of China’s Credit Reporting System
Former Top Nanjing Political Adviser Commits Suicide
CNPC Plans $3.18 Billion Capital Increase in Finance Subsidiary
LATEST
Retired Shandong Securities Regulator Put Under Probe
China Raises the Bar for Futures Company Shareholders
CNPC Plans $3.18 Billion Capital Increase in Finance Subsidiary
Shanghai Regulators Push Didi to Expel Illegal Drivers After Accident
China Posts First Fiscal Revenue Decline in Six Months
A Billion People Are Now Part of China’s Credit Reporting System
Flow of Direct Investment Into China Continues to Grow Despite Trade Tensions
Trade Issues Could Trigger Competitive Devaluation: Ex-Central Bank Chief
Hong Kong Stock Exchange Chief Vows to Root Out Corrupt ‘Vermin’
China’s Property Investment Growth Slows
Shanghai Bets Big on Green Vehicle Future With ‘Hydrogen Energy Port’
Beijing Says Recent Drop in Rare-Earth Exports Caused by Market, Not Tightened Rules
China Proposes Tighter Rules on Foreign Companies Transferring Data Out of Country
Exclusive: Baoshang Takeover Impact Diminishing, Top Regulator Says
Former Top Nanjing Political Adviser Commits Suicide
Warburg-Backed ESR Shelves $1.25 Billion Hong Kong IPO
BMW's Production Shift to China Pays Off With Jump in X3 Sales
China Will Deliver Its Own Entity List Soon, Ministry Says
China Reduces High-Risk Financial Assets by Net $2 Trillion: Regulator
Central Bank Chief Calls on Shanghai to Step Up Services for Global Investors

By Han Wei / Jan 11, 2019 03:38 AM / Business & Tech

Photo: VCG

Photo: VCG

China’s Tesla wannabe Nio Inc. said its 2018 vehicle sales totaled 11,348 units, making it the first Chinese electric-car startup to top 10,000 sales in a year.

U.S.-listed Nio has partnered with conventional automaker JAC Motors to produce its pure electric model ES8 since 2016. In December, Nio launched its second commercial model, the five-seat ES6 SUV.

Nio has been planning to set up its own manufacturing facility. In January 2018, it was reportedly in talks with the Jiading district in Shanghai for a new factory. In September, Nio confirmed a plan for building a Shanghai factory by 2020.

However, the plan has apparently fallen under the shadow of Tesla’s groundbreaking in Shanghai, where its new factory is set to start production of the Tesla Model 3 by the end of this year.

According to a new industry rule released in December, provincial and municipal authorities can approve a new electric car project only when existing projects are in full operation.

Related: Premier Li Keqiang Meets With Musk After Tesla Groundbreaking

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.