NIO has been approved to build a third factory in China, with a total production capacity of 1 million vehicles

According to Reuters, people familiar with the matter revealed that NIO has been approved to build a third factory in China with an estimated production capacity of 600,000 vehicles. With the construction of the third factory, the total production capacity of NIO's three factories in Hefei will reach 1 million vehicles, close to the scale of Tesla's Shanghai factory (1.1 million vehicles).