Tesla’s closest competitors in the Chinese market not only copy the characteristics of the American brand’s electric vehicles and approach to control automation, but also the company’s market strategy from Elon Musk. NIO is rumored to be gradually moving its products into cheaper price niches, albeit at the cost of two separate brands. The most budgetary of them will offer electric vehicles priced at $15,000.
This information will be shared electric with reference to Chinese sources. For more than a year, Chinese company NIO has reportedly been entertaining the idea of launching ALPS-branded electric vehicles, which will be priced between $22,000 and $44,000. The first cars of this brand are expected to go on sale in mid-2024. NIO itself is now in a higher price segment, and this allows you to earn more from each electric vehicle sold and raise capital for further business development.
As recently became known, NIO is also thinking about creating a third brand under the symbol Project Firefly (from the English “firefly”), which in the future should serve the interests of the market in the price range from 15 to 30 thousand dollars. All three brands of the Chinese electric vehicle manufacturer will develop and sell their vehicles independently. The hierarchy structure will be similar to the same Toyota Motor Corporation that combines the premium Lexus brand with the more affordable Daihatsu and Scion. However, the latter stopped developing in 2016, but nobody forbids Chinese manufacturers to use multiple brands to promote a group’s products. This technique is sometimes even used too actively by them.
At the same time, Chinese media are mentioning NIO’s plans to launch its own smartphone brand. They will integrate natively with the NIO EV multimedia system in terms of functionality and will even use the same body colors. Every year the company will release a flagship model, taking the best mobile processors on the market from the “pioneers” with a delay of no more than two months. For example, the brand’s firstborn may be based on the Qualcomm Snapdragon 8 Gen 2 processor. Compared to Apple products, NIO products will be cheaper, but at the same time their price will exceed $ 1000, and in terms of the form factor they will be a normal smartphone without flexible displays and other innovations. The brand’s firstborn is expected to be launched within the next year.