Chinese EV start-ups Nio and Xpeng turn to the mass market for growth
Publishing timestamp: 2024-04-26 05:59:20
Summary
Chinese electric car start-ups Nio and Xpeng are planning to release lower-priced mass market cars to compete with local rivals and German carmaker Volkswagen in China's electric car market. Nio's new SUV will be cheaper than Tesla's Model Y, while Xpeng plans to launch a new sub-brand with cars priced below 150,000 yuan. The move comes amid an intense price war in China's new energy car market, with Nio and Xpeng aiming to bring differentiated technology to the mass market segment.
Sentiment: NEUTRAL
Tickers: ZE594-CN, 9866-HK, TSLA, BYDDF, 9868-HK, VOW3-DE, NIO, XPEV, VOWB-FF,
Keywords: xpeng inc, market insider, volkswagen ag, nio inc, stock markets, tesla inc, business news, markets, technology, byd co ltd, breaking news: technology,