NIO is part of a wave of fledgling automakers — all backed at least in part by Chinese investors — that are propelling the electric vehicle industry's latest trend: ultra-high-performance cars. Communist leaders see electric vehicles as a way to clear China's smog-choked cities and as an engine for economic development. "Our target is to be the first Chinese-based vehicle company to sell worldwide," said Lam. "A lot of the more advanced electric vehicle, power train and other technology research is going on in Europe and the United States." It wants to "break that mold and say that an electric car can be a serious performance car," said Warrior.

Source: ABC News June 19, 2017 05:26 UTC