Chinese electrical car maker NIO‘s new factory will be located in Chuzhou Economic Development Zone, Anhui Province, a province in the East of China, to produce EV models from the company’s third model, native media outlet Cailian Press reported on February 21.
On January 29 this yr, the graduation ceremony of an EV elements manufacturing base was held. According to experiences by native media, there are 98 tasks with a complete funding of 89.5 billion yuan ($13 billion). Among them, the Chuzhou Economic Development Zone participated in 11 tasks with a complete funding of 13.8 billion yuan, masking auto elements, photovoltaic supplies, wholesome meals, superior manufacturing and different fields.
A spokesperson from Chuzhou Development and Reform Commission mentioned that NIO‘s manufacturing unit will quickly be constructed there, which relies on the manufacturing unit of Leopaard, a now bankrupt gentle off-road car producer in China.
Models from NIO‘s lower-end sub-brand will be produced at the Chuzhou Factory. On January 26, Qin Lihong, co-founder and president of NIO, said that the company’s new sub-brands are in full swing, and the third model named “Firefly” might be launched within the third quarter of 2024 in Europe. The model will give attention to small automobiles and mini-cars with a value vary between 100,000 yuan to 200,000 yuan. “Firefly” is NIO‘s inner code for the sub-brand as the precise model identify has not been confirmed but.
Qin mentioned that Europe is a small-car-oriented market, so the corporate will produce smaller autos for the market. Earlier, William Li, founder, chairman and CEO of NIO, had visited SAIC-GM-Wuling, a three way partnership between SAIC Motor, General Motors, and Wuling Motors, and examined a mini EV, which triggered hypothesis about NIO‘s entry into the market phase.
SEE ALSO: NIO Test Drive Crash Causes One Death and One Serious Injury
At current, NIO has two manufacturing bases in Hefei, the capital of Anhui Province, which can produce fashions underneath the NIO model and its second model named “Alpine”. Inside NIO, the three main manufacturers are related to Toyota’s Suzuki, Toyota and Lexus.
In addition, supporting enterprises for NIO have steadily settled in Chuzhou Economic Development Zone. On January 30, the zone’s authorities and Ningbo Sunshine Auto Parts Co., Ltd. signed a contract to construct a brand new light-weight vehicle inside system undertaking with an annual output of 20 million units. The latter is a provider of NIO.
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