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BUSINESS & TECH

Startup Nio to Launch Its First Electric Car for China

The Nio ES8 electric SUV (above) is expected to hit the Chinese market in the first half of 2018, the company announced. Photo: Visual China
The Nio ES8 electric SUV (above) is expected to hit the Chinese market in the first half of 2018, the company announced. Photo: Visual China

Electric vehicle startup Nio plans to offer customers its first model within months, offering it at a price far below that of Tesla Inc.’s comparable model.

The launch could put pressure on Tesla in the world’s largest electric vehicle market because the U.S. company isn’t expected to manufacture its Model X into China until 2020, Tesla CEO Elon Musk said recently.

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