China's Nio plans to sell its first hybrid car model overseas only by 2026

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The model will not be sold in China, where Nio would continue to offer only EVs with batteries that can be swapped, they added.

The European Union has imposed new tariffs of more than 20% on Nio's EVs to the region for the next five years on top of an existing 10% import duty, which one of the sources said had largely undermined Firefly's competitiveness.

Nio declined to comment on the hybrid model plan.

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Category: BusinessFinance

Markets: IndiaChina

Topics: Electric Vehicles Bus Ev India electric car China

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 10:21:00 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 431 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23388736

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