EV Competition Heats up Between Chinese Startup and Tesla

20 December, 2017, 01:38 | Author: Natasha Holloway
  • EV Competition Heats up Between Chinese Startup and Tesla

While electric automaker Tesla struggles to reach profitability, its competitors are slowly beginning to chip away at its market share.

The ES8 electric SUV starts at roughly $68,000 Dollars, which is about half the price of a Tesla Model X in China. Reports from China indicate the golden days of the Model X is numbered as NIO, a global start-up based in China, has just unveiled the ES8 all-electric SUV.

The ES8, which starts at 448,000 Chinese yuan ($91,311) is half the starting price of Tesla's 836,000 yuan Model X in China. The vehicle can go from 0-100 km/h in 4.4 seconds.

NIO is also offering some Tesla-esque features and perks, including an in-car artificial intelligence system and a charging portal that it says will let drivers change their auto batteries in just three minutes. The rental plan will cost RMB 1,280 monthly and provides battery upgrade services, roadside assistance, and nationwide charging among other things.

Orders can be placed through an app.

Speaking to CNBC, NIO Founder and Chairman William Li said it was hard to guess how the launch of their vehicle would impact Tesla's own sales, saying, "Maybe Tesla will sell less... after our product is out".

Grid View
Grid View

"For sure I think Tesla is our rival in that consumers will choose between our products", continued Li. The electric vehicle market is booming and will still maintain a growth in sales, grabbing customers that will purchase from both brands. "It's hard to say", Li said.

A few months ago, China announced that it would slowly step away from conventional-powered vehicles in favor of cleaner, more sustainable electric ones, and they're willing to pay for it.

Nio launched a self-driving, electric concept vehicle called EVE in March, and the company also makes the EP9, a $1.5 million supercar that accelerates to 60mph in 2.7 seconds and has a top speed of 195 miles per hour. The company recently unveiling the world's largest supercharger station in Shanghai while also striking a deal with the city's government to build a new gigafactory. Not only is there substantial competition for Tesla, but for NIO as well.

The company is also reportedly getting US$1 billion in a new round of funding led by Tencent, which has also invested in Tesla.

"The plan of entering capital markets is just a necessary process during the development of the company".

Toyota workers donate toys, money to Salvation Army
Students have been participating in this drive for five years, and in that time frame, more than 7,000 toys have been donated. And if you don't even have to come across a kettle to give.

Recommended:

  • Pakistan Quetta Church under Suicidal Attack

    Pakistan Quetta Church under Suicidal Attack

    Police official Abdur Razaq Cheema told media that at least two attackers were able to escape and said that a search is underway. On the other hand, security forces' incompetence despite new tactical training and latest weapons is itself a question mark.
    Google looking at slower fingerprints on Pixel 2 XL after Android 8.1

    Google looking at slower fingerprints on Pixel 2 XL after Android 8.1

    In the meantime, however, there is one workaround that should fix the reaction speed of the Pixel 2 XL fingerprint scanner. Since 2013, Android users can access Google Now by saying the hotword " OK Google ".
    Steelers' Antonio Brown injured, leaves game vs. Patriots

    Steelers' Antonio Brown injured, leaves game vs. Patriots

    But the Steelers remained productive on offense without him, and Roethlisberger was matching Brady completion for completion. The Steelers had opportunities to put the Patriots away, but ultimately could not vanquish Ben Roethlisberger's kryptonite.
  • Sicario 2: Soldado Trailer Reunites Josh Brolin and Benicio Del Toro

    Sicario 2: Soldado Trailer Reunites Josh Brolin and Benicio Del Toro

    The follow-up, which will be titled Soldado , is on the way, and once again stars Josh Brolin and Benicio Del Toro . Graver is asked to step in and help take care of the problem, with one of his new bosses played by Catherine Keener.
    Mesut Ozil contract vastly changes prescribed future

    Mesut Ozil contract vastly changes prescribed future

    Both players' contracts expire at the end of the season and various reports have surfaced regarding what their plans are. But Wenger feels Ozil is now playing the best football he has seen from the World Cup victor since he joined.
    WWE Clash of Champions

    WWE Clash of Champions

    AJ Styles will be looking to defend his WWE title against Jinder Mahal while Randy Orton pairs up with Shinsuke Nakamura. DON DAVIES: I hope this is not a totally squash match with Breezango unable to get any offense in the match.
  • Rahul Gandhi appointed Congress new president

    Rahul Gandhi appointed Congress new president

    Calling himself an idealist, Gandhi said current day politics in India is "devoid of truth and kindness and politics is being used to crush people".
    Ryanair to Recognize Pilot Unions to Avert Christmas Strike

    Ryanair to Recognize Pilot Unions to Avert Christmas Strike

    The budget airline has agreed to meet with pilot's union for the first time ever, but passengers may still face disruption. Ryanair has sought a meeting with the Irish Airline Pilots' Association on that day, according to The Independent .
    'Transgender,' 'fetus,' 'science-based' reportedly on CDC list of banned words

    'Transgender,' 'fetus,' 'science-based' reportedly on CDC list of banned words

    On the list: " diversity ", " fetus ", " transgender ", " vulnerable ", " entitlement ", " science-based " and "evidence-based". Ashish Jha told Stat News, the decision to censor the seven words will likely force staff to self-censor their work.
  • Switch your United Kingdom  mobile network with a text message from 2019

    Switch your United Kingdom mobile network with a text message from 2019

    Mobile phone customers will be able to cancel their contract with a single text message under plans unveiled by Ofcom today. Under the new rules, mobile providers will also be banned from charging for notice periods running after the switch date.
    Week 15 Game Scout: Chargers at Chiefs

    Week 15 Game Scout: Chargers at Chiefs

    Keenan Allen , Tyreek Hill reaching 1,000 yards receiving for the season (he's at 986), and playing the field position game. Even Chargers quarterback Philip Rivers admitted he was surprised with how drastically Kansas City fell back to the pack.
    Porzingis sits out for Knicks vs Thunder; Adams out for OKC

    Porzingis sits out for Knicks vs Thunder; Adams out for OKC

    Play in front of those fans. "Other movements, the doctors might say, 'That's something.' I think he just wants to make sure". Anthony, 33, returns averaging 18 points per game with the Thunder this season.


Popular

Hardik Patel says BJP hacked EVMs for Gujarat Elections
But he blamed the victorious BJP for allegedly manipulating the electronic voting machines to corner Patel votes. In his congratulating statement, Hardik Patel alleged BJP for EVM tampering.

Google's Project Tango To Shut Down On 1 March 2018
Some of the smartphones managed to deploy Tango - like the Lenovo Phab 2 Pro and ASUS Zenfone AR - but to limited success. Tango peaked in June 2016 when the Lenovo Phab2 Pro was unveiled as the first Project Tango phone .

Watch SpaceX launch its first reusable rocket to the International Space Station
This event makes SpaceX the first entity to build, launch, land and reuse their own rocket boosters, and cargo capsules together. In pic: A SpaceX Falcon 9 rocket lifts off from newly refurbished Pad 40 at Cape Canaveral Air Force Station, in Cape Canaveral.

WWE announce details regarding first ever Women's Royal Rumble match
This absolutely rules, and means the January 28th card is gonna feature two Rumble matches, which ain't even remotely a bad thing. What do you say, ladies, you make history once again? -Whether, like the men's match, this will be an over the top battle royal.

Samsung unveils Galaxy A8 (2018) along with upgraded Galaxy A8+ (2018)
Samsung Galaxy A8 (2018 ) sports a 5.6-inch (1080×2220 pixels) Full HD+ Super AMOLED display and runs on Android 7.1.1 (Nougat). Internally, both the phones are powered by Samsung Exynos 7885 chipset, built on the 14nm manufacturing process.

The Pentagon Has Been Investigating UFOs, New Report Reveals
However others, including Elizondo, say while Pentagon funding for the program ended at this time, the program does still exist. Reid enlisted support of two other lawmakers, Ted Stevens, the late Republican senator from Alaska, and Democrat Daniel K.

It didn't take long for Aaron Rodgers to make Packers believe
The Panthers put up 287 yards of offense on the Packers, whose injury-plagued defense entered as the third-worst on third downs. That's what Carolina Panthers QB Cam Newton did on Sunday, taunting the Green Bay Packers before throwing for a touchdown.

Jerry Richardson to put Panthers up for sale at season's end
CBS Sports writes that the team is using an outside law firm to conduct an internal investigation of Richardson. Confirmation of the investigation also appeared on NFL.com, which cited NFL Network Insider Ian Rapoport .

Ravens blitz Browns in 2017 home finale
Perriman likely won't start, but the Ravens could look to get him involved if they get out to a lead against the winless Browns. On the next play, Za'Darius Smith got loose on the edge and stripped Browns rookie quarterback DeShone Kizer in the end zone.

Dodgers trade Gonzalez, Kazmir, McCarthy and Culberson to Atlanta for Matt Kemp
Kemp was still technically to be paid by the Dodgers for the next two seasons on a contract worth over $43 million. Kemp also grounded into 25 double plays in 2017, which lead all National League players for the most.