Nio’s ES7 sport utility vehicle has another rival, Tesla’s Model X and Model Y in China.
Nio
Nio on Wednesday launched the ES7 sport utility vehicle to compete with Tesla strengthening in China.
The ES7 adds another competitor to Tesla’s Model Y and Model X in China as competition in the electric SUV space is intensifying.
Nio is trying to differentiate its electric SUV by highlighting its technological features.
This includes Nio Autonomous Driving, the company’s system that offers a number of semi-autonomous driving features.
The company also highlighted the infotainment system that includes a 23-speaker surround sound configuration in the car.
Nio’s ES7 has three different range capabilities depending on battery size – 485 km, 620 km and 930 km.
The ES7 with a range of 485 km starts at 468,000 Chinese yuan ($69,693) before subsidies. The longest-range version starts at 526,000 yuan before the subsidy.
Pre-orders have already begun with deliveries expected to begin in August.
Nio shares rose more than 4% on Wednesday.
Nio says the ES7 is one of the first passenger cars certified in China to be able to tow a caravan or trailer.
Nio and his colleagues have been grappling with current supply chain disruptions, which have been made worse by the resurgence of Covid-19 in China and subsequent shutdowns during and around the world. around the main production centers in the country.
The company reported increased first-quarter revenue despite its increased losses. While production is hindered in April and Maythe company’s second-quarter delivery outlook suggests a bounce back in June.
Tesla meanwhile has also struggling with production at China’s key factory in Shanghaiwas restrained by a particularly prolonged lockdown.
