Chinese electric vehicle manufacturer Nio Inc (NASDAQ: NIO) faces increased competition from Tesla Inc (NASDAQ: TSLA), which will only become more intense with the launch of the latter’s China-made Model Y vehicle, according to Bloomberg Intelligence analysts.What Happened: The Elon Musk-led company’s locally-made compact SUV could give the Nio a run for its money, as per the analysts. “Tesla’s brand cachet and wider distribution network could lift its Model Y unit sales above Nio’s,” they said, as reported by Bloomberg on Thursday.Competition is also reportedly intensifying as conventional automakers such as Volkswagen AG (OTC: VWAGY), Toyota Motor Corporation (NYSE: TM), …read more
Source:: Yahoo Finance
