Nio (NIO), the Chinese electric vehicle maker, is planning to establish a production facility in Beijing and will likely seek a manufacturing partner, Reuters reported.
The Tesla (TSLA) rival produced 3,989 units in the first quarter, almost half of what it manufactured in the prior quarter. The company’s manufacturing base in Anhui has an annual production capacity of 100,000 units, according to the report.
“We will evaluate all possibilities and will not completely rule out the plan to build the Beijing factory independently. The first choice is still manufacturing with a partner, which is our consistent strategic thinking,” CEO William Li said during a press conference on May 29.