The sedan features independent driving sensors built into the car’s body, and the launch of the ET7 came just as rival Tesla began selling its Chinese-made Model Y all-wheel drive vehicle in the Chinese market.
Nio aims to expand its product lineup to attract more customers Sedans and SUVs make up about 46 percent of all sales in the Chinese passenger car market.
Chief Executive William Li said Nio’s new battery technology gives the ET7 a driving range of more than 1,000 kilometers between charges.
The price starts at 58 dollars for a car without a battery, which is one of the most expensive components of electric vehicles, which can then be rented from the company, while its price with the battery starts from 69 thousand dollars.
Lee said: The ET7 will be equipped with lidar sensors, which help the vehicle perceive its surroundings, and are often found in self-driving cars to aid drivers, a technology that Tesla boss (Elon Musk) rejected.
The car also features 5G, Wi-Fi 6, Bluetooth 5.2 and V2X, and there is also a 7.1.4 audio system with 23 speakers.
The California auto maker, which sells Shanghai-made Model 3 sedans, has started selling its Model Y cars, starting at $ 52,000, and is using cameras to assist the driver.
The market value of Nio, which delivered 43,728 vehicles last year, is more than $ 92 billion, surpassing traditional automakers such as Daimler and General Motors.
It currently sells three models of the SUV that were manufactured in an automobile plant in Hefei, east China.
Nio’s competitor Xpeng said it plans to launch a new sedan model, and it currently has a sedan and SUV in its lineup.
What does the Nio ET7 cost to buy with battery:
- A 70 kW battery is priced at $ 69,000.
- A battery capacity of 100 kW at a price of 78 thousand US dollars.
What does the Nio ET7 cost without the battery:
If you decide to subscribe to the Nio Battery as a service, the prices drop to:
- A 70 kW battery costs $ 59,000 with a $ 150 monthly subscription.
- A 100 kW battery is priced at $ 59,000 with a $ 230 monthly subscription.