Nio to Open First Multi-Brand Store in China as Part of Demand Push

Nio to Open First Multi-Brand Store in China as Part of Demand Push

Shanghai-based EV maker Nio will open its first multi-brand store in China on Wednesday, bringing together its three brands — Nio, Onvo, and Firefly — in a single location aiming to reduce costs. Last month, upon celebrating the production of its one millionth vehicle, Nio said it planned to roll out the first batch of these stores across China ahead of the Spring Festival in February — also known as the Chinese New Year Holiday. By then, Presid…