New models from carmakers including Nio and Seres also challenge Tesla’s bestselling Model Y and cars from luxury German marques.

Chinese electric car company Nio has launched two lower-priced brands in the last two years to broaden its customer base in a sluggish Chinese consumer market.

New models from carmakers including Nio and Seres also challenge Tesla’s bestselling Model Y and cars from luxury German marques.

Tesla has aggressively cut prices on its Model Y in India, aiming to compete with luxury rivals despite import duties. This strategic move follows a slow market entry, with rising…