Chinese Carmaker Takes on Tesla With an Electric SUV


"Tesla is a company founded in the era of the internet while NIO was born in the era of mobile internet".

Nio is considering a US Initial Public Offering next year, Bloomberg reported on Friday, citing sources with knowledge of the matter.

The fierce battle for electric vehicle market share in China is backed by an aggressive drive by Beijing to cut severe - and politically-sensitive - air pollution in the country. To date, the company has raised more than $1 billion from investors led by Tencent Holdings Ltd. NIO is preparing for its next phase of growth in the world's biggest electric-car market. A technology leader across several automotive product areas, Magna is able to combine expertise in hybrid and electric powertrains, a vehicle's overall body and structure, and lightweighting solutions using a range of both metallic and plastic/composite materials. "Maybe Tesla will sell less.after our product is out". It also has an in-car artificial intelligence system called NOMI that can help regulate the temperature, take photos and play music based on voice requests. It sounds like NIO thought of everything, now all that's left is to actually go and deliver everything.

Building that infrastructure "will be a big challenge in China", Qin said.

The company is proposing ways to try to make it easier for its customers keep their cars charged, including a monthly subscription plan to rent batteries, and vans that function as mobile charging stations. And the high population density in larger Chinese cities means people can't install charging facilities in their own garages, he explained.


To address difficulties around charging, NIO also unveiled NIO Power, a charging experience that allows the ES8's battery to be swapped in three minutes, in addition to traditional charging methods.

Meanwhile, many of China's top traditional carmakers are pouring resources into the technology, and a flurry of global auto giants have announced plans recently to make electric vehicles in China. The SUV, named the ES8, is going for 448,000 Chinese yuan ($67,765). NIO says its driver assistance system supports over-the-air updates so its vehicles can gain new features as they become available.

The company also wants to eventually expand sales beyond China, including to the U.S. It already has offices around the globe, including in California, London and Munich.

- Steven Jiang contributed reporting.

Liverpool boss Jurgen Klopp cool on Mohamed Salah's red-hot form
If you watch him only on television he looks quite skinny, I said before the scouting department did a fantastic job around him. Firmino hooked the ball back at the far post following a corner, for Lovren to dive in and head home for the second.

Related News:

Most liked

Gas Prices Lower than Last Month
Gas prices are still higher than a year ago after the Harvey-related refinery shutdowns sent them spiking across Texas. The average price for a gallon of gas in CT is $2.65 ($2.67), $2.63 in NY ($2.65) and $2.71 in Pennsylvania ($2.73).

Thousands stranded as power blackout hits Atlanta airport
You will need to check the airport's website to see what decision has been made with your flight if it has to stop in Atlanta ., which tracks air travel data, listed hundreds of flights as delayed, cancelled or diverted during the outage.

Celtics edge Pacers on Rozier's steal and layup
Indeed, the Pacers had the Celtics on the brink of defeat unlike any team Boston has been able to rally back from, this season. Now at 26-7 on the season and 13-4 on the road, the Celtics enjoyed their most improbable win of the year.

[Update] SHINee's Jonghyun dies in hospital
News of Jonghyun's death prompted a flurry of messages on social media, with many fans voicing disbelief. " Tell me I did well". Earlier this year, the group went on a world tour that took in the United States and released their fifth album, titled Five.

Eagles quickly learn Nick Foles isn't miscast in new lead role
Helen Strus, a spokeswoman for the stadium, said the man fell during the game and that the area where he fell was not closed off. Wentz is out for the year with a torn left ACL, so this is Foles' team as long as the Eagles keep playing.

Hearts 4-0 Celtic: Unbeaten run may stand forever, says Brendan Rodgers
But after they scored the first goal we didn't manage to create any chances and we didn't win the duels. In those 69 games, Celtic scored an outrageous 197 goals - at an average of 2.9 goals per game .

Rafa Benitez reacts to criticism of his Newcastle players
On the pitch you can win or not, but they realise that they have to be focused on doing things right. " They also know we need something in January that will help the current squad ".

Browns fall to the Ravens, 27-10, as 0-16 looms closer
Kizer's first pass for positive yardage came with 2:35 left in the half - a 14-yard completion to Josh Gordon. That's the weekly question for them now as the 2017 season rolls into Week 15.

Exit polls went wrong in Bihar elections, reminds Tejashwi Yadav
So the elections are also being seen as a test of popularity for PM Narendra Modi who extensively campaigned during the polls. The battle is nearly done with as the second phase of voting ended on Thursday, all eyes will be on the results now.

Ryanair Strike Remains On For Now
RYANAIR will announce "contingency plans" for passengers facing a 24-hour strike in the run-up to Christmas tomorrow. However, IMPACT said it needs clarifications from Ryanair on how it will handle matters into the future.

"Transgender" among list of words reportedly banned at the CDC
The words? " Diversity ", " entitlement ", "evidence-based", "fetus ", " science-based ", " transgender ", and " vulnerable ". At the CDC, several offices have responsibility for work that uses some of these words.

Teen's Harvard acceptance video generates wave of help
According to WAFB , Ayrton plans to major in Applied Math and Computer Science while Alexander is setting his sights on Physics. He shared the video of the moment on Twitter on December 12. "Harvard has always been my dream school".

Prince Harry and Meghan's big day to clash with FA Cup
George's chapel at Windsor Castle in front of Queen Elizabeth, Prince William, Kate Middleton and the rest of the royals. The couple have chosen to marry in Windsor, west of London , because it is "a special place for them".

Haley displays Iran's military hardware to the press
With US support, a Saudi-led coalition has been fighting the Houthis on behalf of Yemen's internationally recognized government. Alireza Miryousefi, spokesman at Iran's mission to the United Nations, said Tehran "categorically" rejects the U.S. claims.

Magnitude-6.5 natural disaster hits off the coast of Java
Picture: AFP.Picture: AFPCamera IconThe 6.5 magnitude quake triggering a tsunami warning for parts of the main island's coastline. The natural disaster was felt across the island as Indonesian authorities reported a quake of similar magnitude offshore of Java.