SHANGHAI (Reuters) – Chinese electric vehicle (EV) maker Nio Inc plans to build a factory in Chuzhou city in the eastern province of Anhui to produce budget EVs under a new brand, said three people with knowledge of the matter.
Neither Nio nor the Chuzhou local government immediately responded to requests for comment.
Chinese media outlet Cailianshe first reported the plan.
(Reporting by Zhang Yan, Zhuzhu Cui and Brenda Goh; Editing by Christopher Cushing)
