Tesla has another up and coming rival in the electric vehicle manufacturing race… NIO of China. NIO has not been in the public American eyes much at this point, but it will be now.
NIO, founded in 2014, just saw stocks soar today, jumping from $2.36 to a high of $4.87. This is in response to an earnings conference call that blew investor expectations.
Although tensions are high between the US and China, it is important that we are all successful in our endeavors to promote a healthier environment for ourselves and the entire planet. The success of multiple companies pursuing renewable energy powered transportation benefits us all, as it helps to keep prices down for consumers and prevents monopolies. It also means that there are options if one manufacturer is not performing in an acceptable manner.
What impresses me about NIO so far, is that they appear to go to great lengths to operate on a high moral ground with emphasis on helping others and the environment. At their events, they appear to have a large captive audience and loyal following, which suggests to me that NIO is doing things right in China. As China suffers many struggles due to pollution and population issues, they need innovators like NIO to bring solutions to the table.
NIO is promising to bring improved electric vehicle range with batteries that are chargeable, swappable and upgradable. The swapping and upgrading options are something that, to date, have been difficult or non-existent in the American market. The idea is that as battery performance improves over time, the consumer should have the ability to easily and quickly swap out and upgrade to the latest electric vehicle battery technology. Since 2018 they have grown from a 70kWh battery pack to 84kWh in 2019. In 2020, NIO promises to grow again to a 100kWh battery that is the same physical size. That is a 40% power increase over 2 years without sacrificing physical size.
This new battery and their new E6 model proposes a range of 382 miles (615km). As we all know, limited range has been the biggest problem with full electric vehicles. This mileage is certainly in the higher range of what we are seeing other electric manufacturers pushing for. This will surely leave consumers feeling more comfortable that their electric vehicle charge will take them where they need to go, without a super lengthy charging layover.
The cost of the battery upgrade to the 100kWh capacity, at today’s exchange rates, is $8301.37. But it seems that they also offer a monthly payment plan of $183.20 for the upgrade. Anyone who placed an order prior to March 31, 2019 gets a 40% discount on that upgrade cost, bringing that cost down to $4,980.82 or $109.92 per month. These upgrades are said to become available in the 4th quarter of 2020.
This new 100kWh battery fully charges in just 5.5 hours with a 20kWh DC charger. This charger will be available in the second quarter of 2020. A NIO owner would have the option of AC and DC charging.
The NIO app is already connected to 280,000 public charging piles in China. 2020 promises further expansion on the charging network.
In the J.D. Power New Energy Vehicle Experience Index Study, NIO ranked among the highest and even outranked BMW. NIO was the only Chinese manufacturer and the only battery powered vehicle to reach the top 10.
NIO also just announced a brand new third electric vehicle design to add to their portfolio. The all new E6 is considered a “smart electric coupe SUV” that can reach 0-to-100 acceleration in 4.7 seconds. Pricing of the new E6 will not be announced until some time in July 2020. Delivery of the E6 is expected September 2020.
On top of the E6 announcement, NIO also announced a fourth new electric vehicle… the ES8 SUV starting at $66,983. Further enhanced packages can be purchased for a higher price. This model comes with optional 6 or 7 seats. The ES8 features energy efficient LED lighting. It is also electric all-wheel-drive (AWD) with 544 horsepower and only 4.9 seconds from 0 to 100. With the 70kWh battery, range is 258 miles. With the 84kWk battery, range is 301 miles. The 100kWh hour battery, 360 miles.
All vehicles feature NIO Pilot, which provides enhanced driver assistance.
What’s even more amazin? The ES8 includes a free LIFETIME warranty, LIFETIME free power swap, LIFETIME free roadside rescue, and LIFETIME free car connectivity.
Delivery of the ES8 is expected April 2020.
Bluetera ECO will be on the lookout for more advancements from NIO and similar companies that help protect the environment and push mankind towards renewable energy.
See the NIO Day 2019 product launch video below or visit the NIO website.