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Nio unveils newest production models to compete against Tesla’s Model Y

The EV maker also released a redesigned ES8 model and an upgraded battery pack.

Source: Nio

China’s embattled electric vehicle (EV) startup Nio launched its third production model EC6, along with the all-new flagship ES8 and its 100kWh battery pack at the company’s annual event Nio Day 2019, local tech media outlet 36Kr reported.

The company’s smart electric coupe EC6, equipped with an all-glass panoramic roof, comes in two versions, sport and performance. The performance version will boast an NEDC (New European Driving Cycle) range of up to 615 kilometers and is capable of speeding up from 0 to 100 km in 4.7 seconds.

The price of the new EC6 was not disclosed during the event. Instead, Nio’s founder and CEO Li Bin said the details of the price and configuration of the new model will be revealed in July 2020. Preorders for this new model are currently available and its estimated delivery time will be in September next year.

Li said Nio’s new model EC6 is expected to compete against Model Y, the latest model manufactured by US premium EV maker Tesla, which will be launched globally in 2020.

The EV maker also released its all-new flagship smart EV model ES8, with a redesigned exterior and interior look, as well as revamps on the vehicle’s range performance, power, and smart features. The all-new ES8 now has seven color options, with a price starting at RMB 468,000 (USD 66,997). The delivery time of this model is expected to be April 2020.

Besides the vehicles, Nio also unveiled its new 100kWh liquid-cooled thermostatic battery pack, which could greatly improve the vehicle’s NEDC range. The range of an all-new ES8 will be improved to 580 kilometers with the new battery pack, compared to the range of 485 kilometers when the vehicle is equipped with an 84kWh battery pack. The delivery of the upgraded battery pack is estimated to begin in the fourth quarter of 2020.

Nio sold  2,528 in November, representing the fourth consecutive month of growth. The company, since its foundation, has delivered a total of 28,743 vehicles as of November 30, of which 17,395 were delivered in 2019.

The Chinese EV maker has been incurring big losses. It booked nearly RMB 3.3 billion in net losses in the second quarter of this year, an 83.1% year-on-year increase. Nio’s widening loss was in part due to decreased vehicle sales as a result of Beijing’s subsidy cuts announced in late March and a macroeconomic slowdown in China.

36Kr is KrASIA’s parent company.