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Tesla rival NIO offers EV with a record 700km range, raises competition in China

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NIO has recently launched a mass production electric car with what appears to be the longest driving range in the EV market. This raises the competition in China, especially against the major EV maker Tesla. NIO

According to an SCMP

report, the Standard Edition of NIO’s ET7 electric car offers a driving range of 500 kilometers through its 70 kilowatt hour battery pack. This car costs 448,000 Yuan (roughly 69,000 US Dollars) and offers about 7 percent farther range than Tesla’s Shanghai made Model 3 EV that costs 249,00 Yuan after subsidy (roughly 38,000 US Dollars).

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Although, the real highlight of NIO is its Premiere Edition of the ET7 that can reach up to 700 kilometers from its 100kWH battery pack. This model costs 536,000 Yuan (roughly 82,000 US Dollars). Notably, the Tesla rival has also launched a Extended Edition, which offers a claimed range of 1,000 kilometers on a single charge from its 150kWH battery pack. Unfortunately, the exact price of the Extended Edition is unknown at the moment.

NIO

As per the founder and chief, William Li Bin, “We will continuously invest in products and technologies, and speed up the development of our service network, thereby bringing a better experience of smart electric vehicles to users.” This arrives as the competition in the Chinese electric vehicle market is rising with almost 200 carmakers, including start ups are racing to launch their offerings in the market. Reports state that one in every five cars will be a non fossil fuel powered vehicle by the year 2025 in China, which is one of the world’s largest EV market.

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