Nio

Instead of paying for the battery, EV buyers disburse a monthly subscription fee of RMB 980 (USD 141) to lease a 70 kWh battery package.

With policy support, the move could be a winning play for Nio.

Nio’s premium electric vehicles are catching on with Chinese drivers, as the company’s losses narrow.

China’s EV startups face an intense competition between each other and traditional automakers, while Tesla’s entrance has upped the standard.

Aulton allows electric vehicle owners to change their out-of-power batteries for full-capacity ones in three minutes.

Investors will inject in total USD 990 million into Nio China in five installments.

The cash-craving EV startup rebounded strongly from the pandemic’s impact, setting a monthly record for electric vehicles sold in May.

China and India markets stalled by government policy U-turns.