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Consolidation on the one hand and enlargement on the other

Consolidation on the one hand and enlargement on the other

The Asian country has ambitious plans and wants to improve its charging network. It will also focus on the development of electric car sales in rural markets. The automotive market in China has developed rapidly in recent years, and the COVID-19 pandemic has brought even greater changes. Currently, the country is at the beginning of an important and crucial phase, as the recovery from COVID-19 continues and more and more Chinese consumers are considering buying or upgrading a car.

The country has been facing air and environmental pollution in general for a long time. That is why the government is trying to promote greener vehicles that produce less harmful substances. This is why carmakers such as Nio, XPeng and BYD have expanded production capacity in China.

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Performance of NIO from 2019. (Source: Investing.com)