In 50 Words: Nio reduces EV prices by $4,200 amid Tesla-led competition

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In 50 Words: Nio reduces EV prices by $4,200 amid Tesla-led competition

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Chinese EV manufacturer Nio has reduced the prices of its models by CNY30,000 (US$4,200) amid growing price competition in the country’s auto market. The cuts come after price reductions by Tesla encouraged other brands to follow suit.

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