The price range of NIO's third brand is mainly in the range of RMB 100,000 ($14,820) - 200,000 yuan, according to local media.
In addition to the two brands, NIO and ALPS, NIO is planning to launch a third electric vehicle (EV) brand to cover the low and mid-range market below RMB 200,000, according to a report by 36kr today.
This third brand, like NIO and Alps, is independently operated with an independent chief and R&D system, and is currently recruiting a core team, according to the report.
The price range of NIO's third brand is mainly in the range of RMB 100,000 ($14,820) - 200,000 yuan, the report said, citing sources.
Within NIO, the three brands are seen as a stepped matrix similar to Toyota's Lexus, Toyota and Suzuki, the report said.
NIO said to have launched development of sub-brand model with planned annual capacity of 60,000 units