NIO Inc., the U.S.-listed Chinese upstart seeking to take on the likes of Tesla Inc., is preparing to launch its second electric SUV mere months after releasing its first.
The Chinese automaker has unveiled the ES6, a lower-priced SUV that will start at the equivalent of $52,000 -- a sizeable $14,000 less than the ES8. The starting model can reach 62MPH in a brisk 5.6 seconds, and should have a range of 255 miles on Europe's NEDC testing cycle thanks to a 70kWh battery (there's also an 84kWh option with a 298-mile range). 62MPH mark in 4.7 seconds, with ranges between 267 miles and 317 miles depending on your battery choice.
Chinese drivers can pre-order the ES6 now ahead of deliveries in June 2019. Nio also planso make an 84kWh battery upgrade available for the ES8 sometime in the third quarter of 2019.
There's no mention of whether or not Nio will sell the ES6 outside of China, although we wouldn't count on it in the near future.
NI0 said it is conducting preliminary research about breaking into overseas markets, including legal compliance and adopting a business model that will adapt to local costumers, though it was still too early to present a detailed plan.
NIO raised $1 billion in a New York initial public offering in September that valued that company at $6.4 billion. The carmaker started to deliver its seven-seater ES8 sport utility vehicles to consumers in June and added a new model ES6 to its lineup earlier this month.