It is learned that recently some Chinese media reported that the name of NIO’s third brand project has been determined to be “Himalaya.” But, NIO denied this.

Previously, according to reports from media, the name of NIO’s third brand project has been determined as “Himalaya”, forming NIO’s product matrix with NIO’s NIO brand and the second brand whose project is designated as “Alps”.

As reported, it is understood that NIO’s third brand focuses on the entry-level market of 100,000 yuan.

In addition, the third brand is operated independently by a team that is independent of the NIO brand. Currently, the speed of team building is accelerating. “There are even many people in functional departments such as the market.” A person familiar with the matter said.