China's Nio Competes with Tesla's Model X

China's Nio Competes with Tesla's Model X

China's Nio Competes with Tesla's Model X

It has been priced at 448,000 Chinese yuan ($67,765) which is roughly half the price of the Model X in China. A technology leader across several automotive product areas, Magna is able to combine expertise in hybrid and electric powertrains, a vehicle's overall body and structure, and lightweighting solutions using a range of both metallic and plastic/composite materials. Or probably, because the whole market is growing, they will still maintain growth in sales. "It's hard to say", Li said.

"Tesla is a company founded in the era of the internet while NIO was born in the era of mobile internet". It also has an in-car artificial intelligence system called NOMI that can help regulate the temperature, take photos and play music based on voice requests. It has an all-electric range of 311 miles on a single charge and can go from 0 to 62 miles per hour (mph) in 4.4 seconds.

Orders can be placed through an app.

As a result, the country has emerged as the world's biggest electric vehicle market, surpassing the United States.

ES8 owners can charge their vehicles at stations that offer swapping out of their batteries in just three minutes, said Nio in its press release. Even better, if you run out of juice at an unfortunate location, Nio can send Power Mobile, a mobile charging station that can charge the auto.

The car delivers 480 kilowatts of power and 840 Newton meters of torque to all four wheels
The car delivers 480 kilowatts of power and 840 Newton meters of torque to all four wheels

The startup plans to build more than 1,100 power-swap stations in China by 2020 and have more than 1,200 "Power Mobile" service vehicles.

China's state-backed fervour to push the EV market and its technology has attracted global giants such as BMW and Volkswagen to join the frayalongside Chinese tech titans Baidu, Alibaba and Tencent.

Tesla Inc. (NASDAQ:TSLA) is set to compete with China start-up Nio in the production of mass-produced electric vehicles.

Nio, formerly known as NextEV, is among several start-ups to have sprouted in China after the introduction of incentives for new-energy vehicle makers to help reduce reliance on imported oil. And there is market speculation that NIO is eyeing an initial public offering next year, though Li declined to comment. With more and more players entering the market, the company needs to realize its promises quick or be driven out of the market entirely, no pun intended. "If we can be ourselves and we do what we think is right, we will have our market share".

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