What’s new: Chinese electric vehicle (EV) upstart Nio Inc. will stick to its commitment to only produce pure-electric models, its founder and CEO said, even as other carmakers plow cash into developing hybrid cars.
Speaking at the Beijing Auto Show on Thursday, Li Bin predicted the transition of the country’s passenger car market would come in two phases. In the first, drivers will replace their conventional cars with new-energy vehicles (NEVs), and in the second there will be a complete shift to pure-electric models.
