NIO has been clear with its brand identity since it launched: we sell expensive, premium-class electric vehicles that are quite large, high tech, fancy, and did we say expensive? Its sales have been quite good, considering its young age and its vehicles’ high cost, but it’s now making moves and aiming much higher. Like Tesla did when it launched the Model 3, NIO is trying to reach a big new swath of the market by selling a somewhat smaller and cheaper car. Initial reactions seem to imply it is going to be a huge success.

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