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By Mo Yelin / Dec 17, 2018 01:15 PM / Business & Tech

Nio's first electric SUV, the ES8. Photo: VCG

Nio's first electric SUV, the ES8. Photo: VCG

U.S.-listed Chinese electric-car upstart Nio has introduced its second commercial model: the five-seat ES6 SUV.

The high-end vehicle reinforces the company’s intention to break into China’s burgeoning luxury car market.

The ES6 is less expensive than Nio’s first model, with a starting price of 358,000 yuan ($51,918), and has a range of roughly 300 miles. The company’s first car, the ES8, unveiled a year ago, cost 448,000 yuan with a range of approximately 220 miles.

Nio unveiled the ES6 at its annual event in Shanghai over the weekend. The company has been dubbed the Chinese rival to U.S. Tesla.

Related: China’s Tesla Rival Steps on Accelerator

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