Recently, the name of NIO’s second brand was revealed, named Ledao. Li Bin said that Alpine is the project code name, and he is very cautious about the name of the car and has registered many names. The Chinese and English names were finalized in the second half of last year.
Sina Technology News On the afternoon of March 14, at today’s NIO long-life battery strategic communication meeting, NIO CEO Li Bin and NIO President Qin Lihong were interviewed by the media.
He said that the target user group of NIO’s second brand Letao is the family scene. The most important thing for a family is happiness and the cost of using the car. The whole family is happy and the household is well managed, and finally the name Ledao was decided. "Every journey a family spends together is a joyful one."
Regarding the positioning of the second brand Letao, Qin Lihong said that it is not a mid-to-low-end brand, but aims at Tesla and is aimed at the mainstream market.
Li Bin added that the reason for deploying the second brand now is because the foundation has been laid. NIO’s investment in electrification, intelligence, and complete vehicles can develop the second brand at a lower cost.
Li Bin said that Ledo can be cheaper than Tesla and Model Y. On the one hand, it is based on NIO's overall capabilities, and on the other hand, it relies on domestic supply chain, manufacturing and other capabilities to define such a product.
Li Bin revealed that Letao will also follow NIO’s BaaS model, and the price will be cheaper.
In addition, Qin Lihong revealed that Ledao's new brand is expected to be officially released in mid-to-early May this year.