On June 5th, Qin Lihong, co-founder and president of NIO, responded that NIO‘s third factory is located in the Hefei Xinqiao Intelligent Electric Vehicle Industrial Park. Construction has recently started with a single shift capacity of 100,000 units. It will be used for the production of future NIO and ONVO brand products.
Earlier, according to foreign media reports citing informed sources, NIO has been approved to build its third factory in China. The approved production capacity of this factory is 600,000 vehicles. With the addition of this new factory, the total production capacity of NIO‘s three factories will increase to 1 million vehicles, nearly on par with Tesla’s Shanghai factory (1.1 million vehicles). However, NIO stated that the above information is not true.
Qin Lihong said that due to the recent strong sales of NIO brand and our long-term strategy, the existing two factories in Hefei have already reached their designed single-shift production capacity. With the launch of new products in the future, the production capacity of existing factories will no longer be able to meet market demand. ‘NIO does not have an overcapacity issue.’
SEE ALSO: NIO CEO Li Bin Considers Collaborating with European Local Companies to Establish Factories
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