NIO will launch a new brand to enter the mass market, aiming to surpass Tesla and Wuling Hongguang

NIO recently released its second quarter 2021 financial report. CEO Li Bin revealed at the financial report meeting that NIO has established a core team for the new brand with the goal of entering the mass market.

A few days ago, Li Bin visited SAIC-GM-Wuling and test drove the Baojun KiWi EV. After the test drive, Li Bin praised it highly, believing that it combines originality, technology and a sense of the future. He also said bluntly, "For NIO owners, if the second car in the family is a product like KiWi EV, it should be fashionable, youthful and fun." At the earnings conference, Li Bin also said that from a competitive perspective, Baojun KiWi is a model worth seeing.

Therefore, there are reports that NIO's new brand will directly compete with Wuling Hongguang MINI EV, but Li Bin denied this: "The relationship between the NIO brand and new mass-market brands is similar to that between Audi and Volkswagen and Lexus and Toyota. Our new brand will not enter the market segment of Wuling Hongguang. We hope to provide better products and services at a lower price than Tesla."

However, Li Bin did not specify when NIO's mass-market brand would be launched, but said: "The mass-market brand is a long-term strategic consideration. The R&D speed and efficiency will definitely be faster based on NIO, but the specific launch time will depend on various technical and market conditions."

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.