China’s electric car company, Nio, is a Tesla rival

A six year old Chinese electric car company is growing to become Tesla’s biggest rival with some uncanny similarities.

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Nio - Teslas Rival - Energy News Beat

Founded by William Li, Nio is just a six year old electric car company. Its parallels of success with Tesla are uncanny. With a passionate customer base, a quirky personality of the founder, and a skyrocketing market share, Nio is Tesla’s most predictable nemesis.

Nio, earlier in the year, unveiled its first sedan exactly when it is Tesla’s most popular model. The all-electric ET7 sedan’s cost will start at 448,000 yuan before government subsidiaries. Its deliveries will resume in the first quarter of 2022.

The company has also launched a volume battery pack which can improve driving range, have an upgraded autopilot system, and has a battery swap feature at swap stations, where instead of re-charging the battery, it can be replaced. Nio targets at making more than 500 power swap stations by the end of 2021.

Nio started out being criticised for putting all its money into marketing and silver studded showrooms, as it even ran out of cash doing so while making less profits. It was a turning point in the company’s journey when they received a billion dollars as investment from entities in the municipal government of Hefei, and a 1.5 billion dollar credit line from Chinese banks. Since then, it has only been an uphill battle for Nio.

About Stu Turley 2288 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience in implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor in this space. Stuart has led the “Total Corporate Digital Integration” platform at Sandstone and works with Sandstone clients to help integrate all aspects of modern digital business. He is also the Executive Publisher of, the best source for 24/7 energy news coverage and is the Co-Host of the energy news video and Podcast Energy News Beat. Stuart is on Board Member of ASN Productions, DI Communities Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.