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Nio Develops a Budget Electric Car for Europe

The new product will be released under a new sub-brand and positioned as an affordable electric car.

Chinese car brand Nio is working on an affordable electric car, according to Autoreview.nl. It is being developed specifically for Europe, should cost around 25,000 euros, and will be sold under the new sub-brand.

The automaker explains that there is a greater demand for cheap EVs in Europe than in China. That is why the new model will be on sale on this continent first of all, and later reaches other than |Europe’s countries including China.

EV maker NIO is just entering the European car market. Currently, there are four models on offer: two sedans (ET5 and ET7) and two  SUVs (EL7 and ES8). NIO electric cars are considered premium, they are quite expensive – from 60,000 euros. Sales in Europe in the first quarter of 2023 slightly exceeded 300 EVs. For comparison, Tesla delivered more than 60,000 cars to Europeans in March alone.

By the way, the project with a relatively inexpensive NIO electric car, albeit under a different brand, might work. For example, the cheap Dacia Spring was already bought by  14,000 customers in Europe in the first 3 months of this year.

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