NIO: Chinese Electric-Car Maker Co. Charges its Debut Mobile at $67783

Marco Green
December 18, 2017

Chinese electric vehicle startup Nio has demonstrated its new ES8 SUV to customers in Beijing, with home market sales already under way.

Do you like the look of the Nio ES8? The all-electric SUV is expected to compete with Tesla's Model X.

The ES8 starts at 448,000 Chinese yuan (US$67,765), which is half the starting price of the 836,000 yuan (US$126,470) Model X in China. However, because of import duties that are levied, the all-electric crossover is quite expensive.

With this in mind, Chinese consumers may opt to consider another electric vehicle that has recently entered the market - the Nio ES8.

VW announced that it will invest more than 10 billion euros ($11.8 billion) along with its partner Anhui Jianghuai Automobile Group grow a range of new-energy vehicles, and Ford Motor Co. will pay out 5 billion yuan in a partnership with Anhui Zotye Automobile Co. Moreover, it has advantage of state subsidies of Beijing, given for electric cars. Following its latest billion-dollar capital raising last month, Nio was said to be valued at about US$5 billion.

William Li, Founder and Chairman of Nio outlined that it is hard to determine how the launch will affect Tesla's sales in China. "Tesla has premium-quality products and the founder is a legendary figure", Zhang said.

According to the company, the seven-seater ES8 has an acceleration of 100 kilometers per hour (62 mph) in 4.4 seconds.

ES8 owners will have two options for recharging their vehicle.

The owners of the ES8 can charge their auto by swapping batteries at power-swap stations in three minutes or recharge with the help of "Power Mobile" service vehicles that travel to motorists. The process is said to take only three minutes.

The company also plans to offer mobile charging services through what it calls "power mobile" vans equipped with battery packs and onboard chargers. The system can automate certain features like adjusting the temperature and taking photos.

The ES8 uses NOMI, an AI system that controls several functions in the auto, including taking photos and climate control.

NIO organized to increase more than 1,100 power-swap stations in China by 2020 and establish more than 1,200 "Power Mobile" service vehicles. It also sports the EyeQ4 chip from Mobileye, the global leader in Advanced Driver Assist Systems (ADAS).

The Nio ES8 is now available to order in China.

Other reports by Click Lancashire

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