Chinese EV Maker Nine Plans Global expansion begins with Europe later this year

(NASDAQ: TSLA) rival considers a trip to countries that are electrically car-friendly. “We hope to start with Europe,” Li told reporters, without giving CNC more details. “Data-reactid =” 21 “> De Telsa Inc. (NASDAQ: TSLA) rival considers a trip to countries that are electrically car-friendly. “We hope to start with Europe,” Li told reporters, without giving further details, according to CNBC.

The Chinese company on Thursday also unveiled a “battery-as-a-service” product, where customers can sign up to receive battery packs starting at $ 140, after purchasing electric cars without a battery.

Nio is partnering with Tesla’s supplier Contemporary Amperex Technology Co. Ltd., better known as CATL, and others, in setting up a new company in Wuhan that will support their battery product.

Why it matters

The automaker said it delivered a record 3,740 cars in June and more than 10,000 for the second quarter. Nine stocks have risen nearly 243% YTD.

Price action

Nine stocks traded 0.58% lower at $ 13.70 in the pre-market session on Friday.

Related