Nio Launches Electric Car, Costs Half Of Tesla X

Nio, the electric vehicle startup from China launched its first mass-manufactured model on December 17. The company would compete with leading electric car manufacturing companies such as Tesla in the Chinese market.

The ES8, which costs nearly 448,000 Chinese yuan ($67,765) is half of the cost of Tesla’s Model X, which is 836,000 yuan ($126,470) in China. Moreover, it has advantage of state subsidies of Beijing, given for electric cars.

William Li, Founder and Chairman of Nio outlined that it is difficult to determine how the launch will affect Tesla’s sales in China.

He told CNBC over the weekend, “Maybe Tesla will sell less … after our product is out. Or probably, because the whole market is growing, they will still maintain growth in sales. It’s hard to say.”

At the launch event, Li clarified that its company has a lot of customers who opted for its cars over Tesla. In addition, there are people who bought cars from both companies.

Li believes Tesla is its rival and consumers would between them in the Chinese market. He added, “But I wouldn’t say we are the Chinese Tesla, or they are the American Nio.”

The intense competition to gain major share in the electric vehicle industry in China is backed by Beijing, which is taking necessary precautions and regulations to control air pollution in the country. Beijing also offers subsidies and state investment in the industry, including development a battery charging network.

Nio would develop over 1,100 “Power Swap” charging stations across the country and launch more than 1,200 “Power Mobile” cars by 2020.

Li outlined the company plans to enter IPO, but no deadline is set for it.

10 COMMENTS

  1. Hello, Neat post. There’s an issue with your website in internet explorer, might test this… IE still is the marketplace chief and a good part of other folks will miss your wonderful writing because of this problem.

  2. Thanks for every other wonderful post. The place else could anyone get that kind of info in such an ideal manner of writing? I have a presentation subsequent week, and I am on the look for such information.

  3. Youre so cool! I dont suppose Ive read something like this before. So good to search out any person with some original thoughts on this subject. realy thanks for beginning this up. this web site is something that’s wanted on the web, someone with slightly originality. helpful job for bringing something new to the internet!

  4. I as well as my guys came reading through the great solutions from your web blog and then the sudden I had an awful feeling I had not thanked the site owner for those techniques. All of the young men appeared to be as a consequence stimulated to see all of them and have quite simply been taking pleasure in them. Thank you for indeed being really accommodating as well as for opting for this sort of fantastic issues millions of individuals are really wanting to be informed on. Our own sincere regret for not saying thanks to you sooner.

  5. Aw, this was an extremely good post. Taking a few minutes
    and actual effort to make a superb article… but what can I
    say… I put things off a whole lot and never seem to get nearly anything done.

  6. I’m excited to uncover this site. I need to to thank you for ones
    time for this wonderful read!! I definitely really liked every part of it and i
    also have you book marked to check out new stuff on your web site.

  7. Generally I don’t read post on blogs, but I wish to
    say that this write-up very forced me to try and do so!
    Your writing taste has been surprised me. Thanks, quite nice article.

LEAVE A REPLY

Please enter your comment!
Please enter your name here