Chinese Tesla rival Nio plans US EV sales by 2025 as it outlines global ambitions

Shanghai-based EV maker says it plans to enter the US in late 2025 starting with exports of its Chinese-made cars

The carmaker plans to launch a mass-market brand with models priced between 200,000 yuan (US$27,844) and 300,000 yuan

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Nio CEO William Li introduces the ET7 sedan during its launch ceremony in Chengdu, in China’s southwest Sichuan province, in January 2021. Photo: AFP

Published: 8:45pm, 13 Oct 2022

Chinese electric vehicle (EV) start-up Nio plans to enter the US market in late 2025 and launch more affordable models to compete against the likes of Tesla’s Model 3 and Model Y.

William Li, co-founder and CEO of the Shanghai-based carmaker, told German media earlier this week that it aimed to become one of the top five carmakers in the world by 2030 on the back of its global push.

“We envision becoming an active player in the US market at the end of 2025,” Li was quoted by Heise Autos as saying, adding that Nio would aggressively step up its overseas expansion once it has the right products and services for those markets.

He did not say if the carmaker planned to build a plant in the US as part of its strategy.

A Nio electric car is seen at the Chinese carmaker’s first European plant and power swap station in Biatorbagy, Hungary, last month. Photo: Reuters

But Nio president Qin Lihong told the Post last week that the company would test overseas markets with exports of Chinese-made vehicles initially before making plans to localise production.

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