Nio Unveils Second Electric Sedan to Rival Tesla Model 3
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Chinese electric carmaker Nio Inc. unveiled its second sedan, which will compete more directly against Tesla Inc.’s most popular Model 3.
The all-electric ET5 was revealed by founder and Chief Executive Officer William Li at the annual Nio Day event in Suzhou on Saturday. With a starting price of 328,000 yuan ($51,450) before government subsidies, and 258,000 yuan with a leased battery, the most basic variant is designed to drive 550 kilometers (342 miles) on a single charge. The post-subsidy price for an entry-level Tesla Model 3 in China is 255,652 yuan.