NIO gains advantage after Chinese Government favors battery swapping for EVs
Teslarati
MAY 11, 2021
In April 2020, China’s Ministry of Finance announced that EV subsidies would be extended until the end of 2022 for new energy passenger vehicles priced below $45,700. For instance, Tesla China’s MIC Model 3 qualifies for the subsidy since it costs $39,000. NIO recently announced its foray into Europe, starting with Norway.
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