Chinese manufacturer of electric vehicles (EV) NIO (NYSE: NIO) unveiled its new ET7 luxury sedan during ‘NIO Day’ 2021 this weekend, making it clear that You’re here (NASDAQ: TSLA) will have more competition to come for its vehicles produced in Shanghai.
The ET7 will be available early next year and has complex features. The sleek exterior features self-contained driving sensors, a ‘crystal-shaped’ tail light, all-glass roof and a digital entry system that extends the flush handle and automatically releases the ‘electronic lock’ of the door to the door. the driver’s approach.
NIO founder and chairman William Li described the interior as a “second living room concept.” The design features renewable rattan, a natural alternative to plastics, which has a distinctive natural texture throughout. Li described the tropical material as a “natural and green experience”.
The ET7, which will be NIO’s first sedan, comes with a larger 150 kWh battery. It will offer a range of around 621 miles, according to the company. That’s more than the Tesla Model S’s maximum range of 402 miles, as well as the Lucid engines The range of the aerial sedan is 517 miles.
The Chinese electric vehicle market is accelerating rapidly. NIO reported record deliveries of 17,353 vehicles in the fourth quarter, more than double the period of the previous year. Chinese competitors Li Auto and XPeng also announced record deliveries. China’s largest electric vehicle maker, backed by Warren Buffett WORLD (OTC: YES), sold more than 77,000 electric vehicles in the fourth quarter.
Tesla is also increasing its offerings in the country, starting to produce the Model Y SUV at its plant in Shanghai. Before any subsidy, and with the smaller 70kWh battery, NIO’s new ET7 will start at around $ 69,000.