When Tesla officially launched the Model 3 in its showrooms in China in November 2019, interest was high. A little later, the delivery of electric cars from the local gigafactory began, only to set records after records. The Chinese company Nio can now hope for a similar development: last week it began to show its new ET5 sedan across the country, and the speed is said to be greater than almost three years ago for the Model 3.
Nio gets Tesla time
For Tesla CEO Elon Musk, China’s electric car manufacturers are the most competitive in the world. Unlike Western models, they are increasingly trying their hand at models of direct competition. The Nio ET5, for example, which will be presented at the end of 2021, clearly competes in the 3rd class in terms of appearance and technology and, as required in China, offers a lot of information including radio updates as in Tesla.
And that seems to work. Last Saturday, local observer @JayinShanghai recalled the excitement surrounding the launch of the Tesla Model 3 in China. Nio is now facing a similar moment, even bigger, he wrote, sharing a short video from one of the startup’s representatives. In it, many admirers stop and walk around the two ET5s on display. The event does not appear to be crowded or chaotic.
Remember when the MIC Tesla Model 3 hit stores in China in late 2019. @NIOGlobal It is to have this kind of time but bigger!
— Jay in Shanghai Electric Jay (@JayinShanghai) September 10, 2022
Also of Blog CnEPPost has been reported of the “Model 3 moment” for the Nio and reported at least comparable interest as Tesla had in late 2019. There hasn’t been anything like it since, although many other interesting electric cars have now been brought to China. From across the country, visitors on social media reported large crowds and sometimes long wait times at Nio.
Electric car ET5 next to Model 3
For the first time, according to CnEVPost, the manufacturer has now also released the prices of the ET5 – and they also show the proximity of the Model 3. With a battery of 75 kilowatt hours, the Chinese electric car costs from 328,000 renminbi (about 47,000). euro), and 100 kilowatt hours is 386,000 renminbi; along with its battery replacement stations, the 300,000 renminbi price limit for government subsidies does not apply to the Nio, so customers can still shave around 2000 euros off the ET5. The smallest Tesla Model 3 costs less in China at 279,900 renminbi after subsidies, but unlike the Nio it does not have all-wheel drive.
Since the presentation was made in late 2021, Chinese customers have been able to reserve the ET5 with a solid order this week. In this way, 200,000 reservations are said to have occurred. In late August, according to CnEVPost, one of Nio’s founders said he expects the new electric car to outsell the BMW 3 Series, which is popular in China, within a year. It may also be available in Europe soon, because the first delivery of the Nio in Germany is scheduled for 2022, but starting with the bigger ET7.