NIO (NIO.US) is expected to launch a new model under its mass-market brand at the end of this month, and a second small electric car in Europe next year, priced at less than US$30,000, according to sources cited by Reuters.
The report quoted NIO's management as saying that the company is currently working on launching a new car brand, which will cover lower-priced battery-electric vehicles suitable for the European market.
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