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Chinese electric-car startup NIO prices debut model at 448,000 yuan

Published Sun, Dec 17, 2017 · 09:50 PM
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Beijing

CHINESE electric-car maker NIO has launched sales of its first vehicle three years after the company was founded, undercutting the price of a rival model from Tesla Inc.

Chinese customers can buy the ES8 sports utility vehicle, with a range of 500 kilometres on a single charge, for 448,000 yuan (S$91,376), the company said late Saturday in Beijing. That compares with 836,000 yuan for Tesla's Model X, and 596,300 yuan for BMW's petrol-powered X5.

"Electrification of automobiles provides us an opportunity to change lanes to lead," said William Li, a founder of NIO. "Our goal is …

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