International car brands, already experiencing a sharp sales decline, have one more thing to worry about as Chinese electric vehicle (EV) maker Nio began sales of a new luxury sedan to challenge the likes of BMW’s 7 series and Audi’s A8.
The fully electric ET9 executive sedan, which the company expects to begin delivering in March, will spearhead a move among Chinese EV makers to break the dominance of conventional petroleum-powered luxury vehicles built by foreign rivals, said William Li, CEO of the Shanghai-based company.
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