Chinese EV maker Nio to make a smartphone

Chinese electric car brand Nio is reportedly working on a smartphone. This comes at a time when several tech companies around the world that are stalwarts in the world of smartphones are aiming to grab a chunk of the bulging electric vehicle market. Nio CEO William Li previously confirmed that the company would enter the smartphone market. He even cited Apple Car as a motivation for entering the smartphone segment.

Now, a post on Weibo has revealed that Nio CEO has confirmed the previous announcement. He also reportedly said that the smartphone would be traditionally shaped, not curved or folding. It will reportedly cost marginally lower than an iPhone and could come equipped with a Snapdragon 8 Gen 2 chip.

The post has revealed that the Nio smartphone is likely to come to the market sometime next year. Nio also plans to launch an updated version on a yearly basis.

Meanwhile, Nio is also reportedly working on a sub-brand for electric vehicles. The automaker is claimed to be working on a range of affordable electric cars that would cost between $15,000-30,000. The sub-brand is internally codenamed ALPS. This development comes as the EV manufacturer is expanding in the European market after getting success in China.

Interestingly, an automaker venturing into the smartphone market is nothing new. Tesla too reportedly working on a smartphone that will compete with flagship models in the market like iPhone series.