Chinese electric car maker (EV) NIO (New York Stock Exchange: NIO) The ET7 unveiled its new luxury sedan in 2021 “NIO day” Over the weekend, to clarify that Tesla (Nasdaq: TSLA) It will see more competition coming for its Shanghai-produced cars.

ET7 will be available early next year, and it has some complex features. The sleek exterior includes self-driving sensors, a “crystal-like” taillight, an all-glass roof, and a digital entry system that expands the flush handle and automatically releases the electronic latch when the driver approaches.

Nine ET7 sedan

The NIO ET7 is available in early 2022. Photo Source: NIO.

Founder and Chairman William Lee described the interior design as a “second living room concept”. The design features renewable straw, which is a natural alternative to plastic, and has a distinctive natural texture throughout. Lee described the tropical materials as providing a “natural and green experience”.

The ET7, which will be NIO’s first sedan, comes equipped with a larger 150 kWh battery. It will provide a range of about 621 miles, according to the company. That’s way beyond Tesla’s Model S maximum range of 402 miles, plus Lucid Motors Air Sedan Group 517 miles.

The Chinese electric car market is rising rapidly. I mentioned NIO Standard delivery fourth quarter 17,353 vehicles – more than double the period of the previous year. Chinese competitors Li Auto And the XPeng He also announced a record delivery. The largest electric car maker in China, backed by Warren Buffett Globalism (OTC: Yes), It sold more than 77,000 vehicles in the fourth quarter.

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Tesla is also ramping up its offerings in the country, as it has begun production of the Model Y SUV at its Shanghai plant. Ahead of any subsidies, and with a smaller 70 kWh battery pack, NIO’s new ET7 will start around $ 69,000.

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