The China-based budding automatic-car company NIO, lately announced its first production car the ES8 that’s taking a direct focus at its rival Tesla’s all luxury electric-sports utility car; the Model X.
The brand new car from NIO was introduced just over this weekend by the founder and Chairperson William Li. NIO states that its seven seated SUV includes more features than its rival Tesla that too at a fraction of cost.
The ES8 is the first ever all-electric car that’s targeting the mass market, at 448,000 Yuan ($76,765), or approximate half the price of the Tesla’s Model X in China.
On Monday Li told to CNBC that once their car is out hopefully Tesla will be selling less, or may be the entire market is growing so they will still be maintaining growth in sales. All theses said conceding the rivalry, and stating that NIO has already gained orders from the former Tesla owners.
The NIO Company that was earlier known to ne NextEV, opened its square-foot facility of 85,000 in San Jose at the 3200 North First St. a year ago. It is since then the former technology chief of Cisco Systems Padmashree Warrior has been operating the company as CEO.
On Monday Warrior said to the Wall Street Journal that Tesla has covered the way and so now they are taking this ahead. They hold a mission to transform the mobility.
Currently NIO has over 400 employees at its headquarters in North America in San Jose and has doubled in size in just two years from n, as was told by the company spokesperson on Monday to the Business Journal. Approx 70 percent of the local work force is centered on the R&D, whilst the others of it are working on the marketing, development, legal, human resources, and finance.
Lately, NIO also opened a small office in San Francisco that targets on teh user design and user experience, teh spokesperson said. Everyone said this Shanghai based company has over 4,000 employees from near about 40 countries.