Reuters
Betting on flexibility, China’s Nio will only rent cars in new EU markets
Chinese electric vehicle maker Nio will only lease its cars when it launches in four European markets this year, its CEO told Reuters on Friday, betting that flexibility will be a key selling point as drivers switch to the new technology. Users will be able to lease a car with a 75 gigawatt hour battery for 1,199-1,295 euros ($1,171-$1,264) a month depending on the length of the subscription, which can be as short as a month. The plan is the latest unconventional move by the company, which already allows customers to rent rather than buy the battery – the most expensive part of an electric vehicle (EV).