Founded in 2014, Nio is an up-and-coming player in the EV market in China. With 160,038 sales a couple of years ago, Nio is China's fifth-largest pure EV brand with a 3% market share. For comparison, BYD Company made 1.3 million in sales, giving it a 25% market share, while Tesla sold 603,000 vehicles for an 11.7% market share.