The ES8 SUV courtesy of Nio.
Chinese Automaker Nio launched the Nio ES8, a battery-electric SUV more affordable than the Tesla Model X in a country that plans to end the sale of fossil-fuel powered vehicles.
Pricing for the ES8, which has a range of 220 miles on a single charge, starts at 448,000 Chinese yuan ($67,765). This is half the price of the Model X in the country, which starts at 836,000 yuan ($126,470), according to CNBC.
The ES8 is a seven-seater that is made to order and can accelerate to 62 miles per hour in 4.4 seconds, compared to the Model X’s 5.2 seconds, reports Bloomberg.
In addition to China’s battery charging network, ES8 owners will be able to charge their vehicle by swapping its 70-KWh battery pack for a charged unit at one of Nio's battery-swapping stations, reports Bloomberg. Nio plans to build more than 1,100 power-swap stations in China by 2020.
The company is also proposing a monthly subscription plan where ES8 owners can summon vans that function as mobile charging stations, according to CNN.These "Power Mobile" vehicles will give Nio cars enough electricity to drive 62 miles from just a 10-minute charge.
Nio is a global startup that designs and develops electric, autonomous vehicles.