NIO’s electric ET7 sedan aims at higher markets

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The Chinese automaker Nio has a new weapon in the competition for electric driving against market leader Tesla. The manufacturer unveiled his new sedan on Saturday, which should become a direct rival for cars of the American company, but also other international players.

The full electric ET7 sedan has a price of 448,000 yuan, more than 56,600 euros. But then buyers in China can still get subsidies. For a Model 3 of Tesla built in China, the price is 265,700 yuan. According to NIO founder and topman William Li, the ET7 should be seen more as a competitor of Tesla’s more luxurious Model S.

NIO also launched an battery pack on Saturday to improve the range of cars. Nio also wants to take over the market with an battery system. By the end of this year, 500 battery power stations in China must be set up. Drivers do not have to wait at charging points until the battery is full, but can continue immediately after a switch.

NIO considers BMW, Mercedes-Benz and Audi among his rivals. It is precisely because, according to Li, Tesla is trying to be the” Volkswagen of Ford ” of electric cars.

“We aim for the higher segment,” he said.

In the same way, the new Nio will feel mainly the competition of Tesla is the general expectation. Especially since Tesla despite has started selling its larger SUV Model Y, which are also made in China. According to Tesla CEO Elon Musk, this model, with a price tag of 339,900 yuan, has the potential to break all sales records.

Nio is also working on a number of other cars including a sedan. According to experts, the Chinese market offers sufficient scope for further growth. Car ownership in China is lagging behind that of other emerging markets. Out of a thousand Chinese, an average of 173 have cars.

Nio is currently only available on the Chinese market. The automaker has plans to enter the European market this year.

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