Nio plans Beijing plant, will likely seek a partner
Chinese electric vehicle maker Nio wants to build a production base in Beijing and will likely seek a manufacturing partner, Ceo William Li said.
His comments come after Nio said it would form a joint venture with Beijing E-Town International Investment and Development, which will invest 10 billion yuan ($1.45 billion) in the new entity.
Nio's current manufacturing base in the eastern province of Anhui has an annual production capacity of 100,000 units, an insufficient level, Li told a conference on Wednesday.
The automaker, headquartered in Shanghai, operates the Hefei factory with JAC (Anhui Jianghuai Automobile Group).
«We will evaluate all possibilities and will not completely rule out the plan to build the Beijing factory independently. The first choice is still manufacturing with a partner, which is our consistent strategic thinking» Li said.