Upstart Chinese electric car brand delivered more cars than Nio in 2022

A pink Nezha V and black Nezha U Pro electric car models are on display at a store in Shanghai on Nov. 7, 2021.

Costfoto | Future Publishing | Getty Images

BEIJING — Another budget-priced electric car brand is taking off in China, this time selling compact SUVs.

Nezha, named after a feisty Chinese mythological character, claims its car deliveries more than doubled in 2022 to surpass 152,000 vehicles. Most deliveries were of the Nezha V, a compact SUV whose post-subsidy price starts at 83,900 yuan ($12,000).

In contrast, Nio‘s larger SUVs — with a longer driving range and many other features — start around 400,000 yuan.

However, Nio delivered more than 122,000 electric cars in 2022, up by a modest 34% from the prior year. That includes the company’s premium-priced sedans.

Nio has emphasized its focus is on the more niche, higher-end segment, but has hinted at plans

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