CnEVPost Newsletter: More on NIO's sub-brand; Lithium price falls below key level
According to NIO's internal expectations, ALPS will have half the number of models than the main brand NIO, but will aim to achieve 50,000 units per month in sales, local media said.
NIO now has 11 battery swap stations in Europe, with six more to open soon.
The model was previously seen as possibly being named G7 or G5, and could be unveiled at the Shanghai auto show in two months.
The EQS SUV is the latest offering from Mercedes-Benz in China, where it has previously released several all-electric models that have had lukewarm sales.
Retail sales of new energy passenger vehicles in China are expected to be around 400,000 units in February, with a penetration rate of 29.6 percent, according to preliminary estimates by the CPCA.
Industrial-grade lithium carbonate prices in China today fell below 400,000 yuan ($58,000) per ton, a pullback of more than 30 percent from the November peak.
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