NIO (NIO) eyes buying Volkswagen plant in historic market shake up
Baua Electric
SEPTEMBER 19, 2024
CEO Oliver Blume warned that Germany’s competitive advantage is at risk as the industry shifts to electric vehicles. Volkswagen has already canceled plans for a new EV facility and delayed key model launches as it falls further behind Chinese automakers. Although it doesn’t sell cars in Belgium yet, NIO plans to launch there soon.
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