Caixin
Caixin Global – Latest China News & Headlines

Home >

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 © 2017 Caixin Global Limited. All Rights Reserved.