NIO goes after Tesla Model X with new all-electric SUV, battery swap and renting structure
China’s demand for SUVs and electric vehicles keep increasing, which made Tesla’s Model X a very popular vehicle in the country despite its higher price due to import duties slapped on all of Tesla’s vehicles.
Now NIO, one of the most well-funded new Chinese EV startups, launched their first production vehicle this week, the NIO ES8, a cheaper all-electric SUV to try to capture the market.
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