Having solidified its position in the high-end market, Nio is now launching an offensive into the mid-to-low-end market
According to multiple sources, Ai Tiecheng, former General Manager of WeWork Greater China, has joined Nio as Vice President of Strategic New Business, reporting directly to Nio CEO William Li
The new business that Ai Tiecheng is responsible for at Nio is the sub-brand,” a source revealed. The so-called sub-brand refers to a mid-to-low-end brand launched independently from Nio, targeting a price range of 150,000 to 250,000 yuan. However, another insider noted that “William Li is also considering the positioning of Wuling Hongguang MINI EV (priced at around 30,000 yuan)”
It is understood that Ai Tiecheng is a close friend of Nio President Qin Lihong and also an original edition owner of the Nio ES8. Before joining WeWork, Ai served as Vice President of Marketing at Shanghai Disney Resort
The sub-brand will continue to use Nio’s battery swapping technology but will operate through a separate independent system, including independent channels, community, and app. Currently, vehicle development for the sub-brand has already begun in Hefei, with Nio Product Planning Director Yu Bin participating in the sub-brand's operations. Multiple headhunters have also been engaged to recruit talent across the industry for the sub-brand business
If all goes smoothly, the sub-brand models can be unveiled in the first half of next year,” a source revealed
It is reported that at the end of 2020, Nio began considering the launch of a sub-brand. The project was initially codenamed 'TV,' representing Toyota Motor and Volkswagen, but later...