Chinese manufacturer of WEILAI electric vehicles challenges Tesla and goes to the European market

The CEO of NiO (Weilai) William Li on a web conference was announced about the release of the European market on a web conference: «We plan to start access to the European market in the second half of 2021.» He also announced the plans of the company to enter other international markets in 2022.

NiO, established in Shanghai in 2014, is called «Chinese Tesla». Its shares are traded in the New York Stock Exchange. The price of shares over the past 12 months has grown by almost 1700%. Judging by the current quotes, Nio is the second in the world in terms of capitalization by the manufacturer of electric vehicles. In the ranking of all car markets for market capitalization Weilai currently occupies the sixth place, ahead of many traditional manufacturers, such as General Motors, Volkswagen and Honda.

Currently, the market presents a total of 4 WEILAI models, including the latest version.

One of the main chips of the NIO is the battery rental service, that is, customers can purchase a new car without a battery and will seriously save at its cost, and then pay for a monthly rental of the battery. The average monthly price is about 120 euros. In addition, customers of the company can use the NiO batteries replacement service and choose any of the 160 specialized charge stations throughout China. Electrocar owners can replace the battery in a car fully charged with a new battery for about 3 minutes, thereby getting rid of the main minus electric vehicle — slow battery charging. As of November 2020, more than 1,2 million batteries were performed at NiO base stations in China.

According to reports, NiO has not yet sold cars outside of China, but has offices in the USA, Great Britain and Germany. The company employs 9,000 employees, which is three times the number of Ferrari employees. Currently, NiO has become an unconditional leader in the electric car market and is ready for global expansion.