Tesla's Competitor, NIO, Launched An Electric Car With A Cruising Range Of 700 Km

NIO ET7 (Slashgear)

Recently, NIO released the electric car with the furthest driving range in the electric vehicle (EV) market. NIO is increasing competition for electric cars in China, this manufacturer is predicted to compete with electric car manufacturer Tesla.

Based on the SCMP report, the standard edition electric car NIO ET7 is able to cover a distance of 500 kilometers with the use of a 70 kWh battery. ET7 is priced at 448,000 Yuan (equivalent to Rp. 976 million).

NIO offers a price range of 7 percent higher than the price of the Tesla Model 3 which sells for 249,000 Yuan (equivalent to Rp. 542 million) in the Chinese market. However, the main highlight of the electric car manufacturer NIO is actually the premiere edition of the ET7.

The ET7 NIO has a longer range than the standard edition, reaching 700 kilometers from a 100kWh battery pack. This electric car sells for 536,000 Yuan (around Rp. 1.1 billion) as quoted from Gizmochina.

The electric car maker Tesla competitor has also released another premiere edition EV capable of covering a distance of 1,000 kilometers on just a single charge from the 150kWh battery pack. However, until now it is not known how much the price of this premier edition electric car with the farthest reach.

"We will continue to invest in products and technology, and accelerate the development of our service network so as to provide a better smart electric vehicle experience for users," said William Li Bin, CEO of NIO.

Competition for electric vehicles (EV) in China has increased quite sharply. Electric car manufacturers in China have nearly 200 manufacturers, including new manufacturers who are competing to offer their products to market share.

According to reports, by 2025 one in every five cars in China will switch to non-fossil fuels. China is one of the largest electric car markets in the world.

The plan is for the launch of ET7 to be held at a sports arena and attended by as many as 10,000 people. The launch is ongoing despite the global pandemic and social distancing regulations are being promoted.

However, fans of electric cars must show a negative Covid-19 certificate in order to see the launch of the NIO ET7 car.

Participants also undergo body temperature checks before entering the sports arena and are required to wear masks when the event lasts for 2 hours in Chengdu.