Volkswagen (OTCMKTS: VWAGY) Audi has stood against the Chinese electric vehicle maker Nio. It moved to court for justice after learning that Nio allegedly infringed its trademark. The court will preside over Audi’s trademark rights case and determine whether or not Nio violated the law.
On Thursday, the German newspaper Handelsblatt reported on the matter, sparking speculation. The newspaper reported that Audi was against Nio’s move. Nio allegedly named two of its models in a way that Audi sees as an infringement. Audi names its model designations S6 and S8 to explain Nio’s breach of its trademark.
Reporters reached out to a Nio spokesperson, and the goal was to have him comment on the latest unfolding. Unfortunately, the reporters’ efforts were in vain after he refused to comment. China’s premium brand Nio is a force to reckon with in the county. Reports show how it has managed to close significant sales in China. In other words, most of its sales have been within the country’s borders.
It seeks to boost its sales, and its triumphant entry into the Norwegian market in May the previous year indicates its determination to scale up operations and succeed as a car manufacturer. However, it has a long way to go considering the many plans it has underway in the future.
It discloses plans to unveil operations in more countries, including Sweden, the Netherlands, Germany, and Denmark. It intends to accomplish its objectives before the year comes to a close.
Nio made its initial sales in Norway, and at the moment, it is selling its ES8 model. However, it currently focuses on Germany, where it intends to undertake the sale of the ET7 electric sedan.
Recently, the Chinese vehicle maker cautioned Tesla Inc (NASDAQ: TSLA) investors. It spoke about the decline of its shares and how it impacted its investors. In addition, it sends out a word of caution to the Tesla shareholders asserting that they could face similar challenges.
Nio said that Tesla needed to ensure that its volume growth takes a different trajectory. However, it warns that following its path would cause Tesla to suffer a similar fate.