RTIwala Team Explains Why NIO, Tesla Model X, Tesla Motors are trending and everything you should know about Electric cars from Chinese Manufacturers. Hardly there’s any car lover who doesn’t know about Elon Musk’s Tesla Company and their Electric cars. In this article, we’re going to share something more about it and it’s Chinese Rival.
First, tell us something about NIO?
Okay, here we go!
- NIO earlier know as formerly NextEV, is a global start-up based in China, designing and developing high-performance, premium electric, autonomous vehicles.
- NIO was founded by the Chairman of Bitauto and NextEV, William Li with the intention to lead the way with autonomous, electric-powered, and smart vehicles, and to make their owners feel positive about owning their products.
- The company, which is financially backed by Chinese tech giants like Tencent and Baidu, recently closed a $1 billion round of funding, and is reportedly considering a public listing in the US before bringing its all-electric vehicles Stateside in 2020.
- NIO set a total of 5 records in their track-only EP9 for the fastest lap for an electric-powered car in the Nürburgring Nordschleife, Circuit Paul Ricard, Circuit of the Americas, and Shanghai International Circuit track.
What is all about NIO ES8 and why it’s trending?
The Electric automaker China, NIO officially launched its first true production car, an all-electric dual-motor SUV called the ES8, over the weekend. The car debuted in concept form earlier this year at the Shanghai Motor Show, but NIO finally shared the key details about the car like price and range.
The second car from the NIO, ES8 will available at car showrooms in China at a base price of RMB 448,000 which is equal to ₹ 43,43,000 before subsidies, with 10,000 Founder’s Editions available for RMB 548,000 (₹ 53,12,421.60).
A battery rental plan is available to NIO users, which provides a RMB 100,000 (₹ 9,69,420.00) discount on the purchase price of the ES8. The NIO ES8 is a 7-seater high-performance electric SUV with both front and rear motors, the SUV delivers 480 kilowatts of power and 840 Newton meters of torque to all four wheels.
This E-powertrain enables the ES8 to accelerate from 0-100 km/h in just 4.4 seconds. The latest active air suspension on all ES8’s models creates connected riding experience. The ES8 has two motors — one for each axle — that, combined, put out 480 kW of power (or about 644 horsepower). That will get the ES8 from 0–100 kilometres per hour in about 4.4 seconds, according to NIO.
Why Tesla is worried?
Well, everyone knows that Tesla is dedicated E-car maker.
And,the price of NIO’s ES8 is about half of what Tesla’s Model X retails for in China, and that’s before subsidies and incentives that can bring down the cost of the ES8 by at least another $6,600. While Tesla has sold its cars in China for a few years, they aren’t eligible for these incentives and subsidies because they’re imported.
The California EV company has been trying to get around these restrictions, which were put in place by the Chinese government in order to promote its own companies. It was recently reported that Tesla has reached an agreement to build a factory in China, while other automakers have formed partnerships with existing Chinese manufacturers in order to tap into the large market.