Nio’s William Li Advises Potential Tesla Model Y Buyers to Await Alps’ Debut Model.
William Li, CEO of Nio, suggests that those eyeing a Model Y may want to hold off for Alps’ inaugural release, promising a more affordable option compared to Tesla’s crossover. The first model from Nio’s sub-brand Alps, codenamed DOM, will support battery swap, offer faster charging, and boast a larger screen, as stated by Li during a recent communication event in Ningbo, Zhejiang province, on March 2.
Li emphasizes, “Those who have been looking to buy a Model Y recently can wait for a while, (Alps’ first model) will surely be cheaper than it.” He further urges potential buyers to consider Nio’s offering, adding, “As for how much cheaper, we’ll have to think about it.” Alps’ debut model, DOM, is slated to hit the market in October this year.
Alps’ entire lineup will leverage Nio’s third-generation technology platform NT 3.0, with the DOM model featuring new in-house developed motors to optimize size and cost, according to a report by local media outlet 36kr. Li also hinted at Alps’ future plans, revealing that the design for the second model, likely a larger SUV, has been finalized.
In contrast, Nio’s main brand will undergo a pricing and positioning shift to differentiate itself from the Alps sub-brand, moving towards a higher tier. With Alps’ commitment to affordability and innovation, it’s poised to challenge Tesla’s dominance in the electric vehicle market.
