Earlier this month Nio said its mass market brand would debut in the second quarter, with the first product launch in the third quarter and large-scale deliveries the following quarter.Executives confirmed the new brand will be named "Le Dao" in Chinese, and said the name is meant to reflect families — the target consumer segment — having a happy time together.
Nio, founded in late 2014, has so far focused on the higher end of the market with SUVs and sedans that can cost more than Tesla's Model S or Model Y, but come with a suite of services such as access to user clubhouses known as Nio Houses.Earlier this month Nio said its mass market brand would debut in the second quarter, with the first product launch in the third quarter and large-scale deliveries the following quarter.that will target the 150,000 yuan price range.
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