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Tesla Rival Nio Launches First Electric Sedan

By Ding Yi / Jan 11, 2021 04:25 PM / Business & Tech

Chinese electric vehicle startup Nio has expanded its product lineup by launching its first sedan model featuring intelligent driving capabilities.

The sedan model, named the ET7, will be equipped with lidar sensors capable of detecting objects in the car’s surroundings to a radius of about 500 meters, a Nvidia chips-powered supercomputer featuring computing power of 1016 trillion operations per second, and a digital cockpit platform developed by Qualcomm.

The ET7, which is due to be delivered from 2022, expects to use battery technology which will enable the car to run for more than 1,000 kilometers on a single charge.

Target rivals of the ET7, costing upwards of 448,000 yuan ($69,000) before subsidies, will include BMW’s 5-series, Audi’s A6 and Mercedes-Benz E-class sedans, according to Nio CEO Li Bin.

The new car’s launch comes as Nio ramps up its production capacity to meet growing demand in China. The automaker has said that it will be able to make 7,500 vehicles per month by the end of January.

Nio delivered 43,728 vehicles in 2020, more than double the number from a year ago, according to a statement released earlier this month. The company has recently launched a used vehicle trading platform in an effort to enhance user stickiness and brand loyalty.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Nio Starts Trade-In Deals to Boost Customer Loyalty, Sales


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