NIO THE COMPETITOR OF TESLA

nio

The sales of Electric vehicles in China have grown since last year despite the global pandemic. When we think of EVs, the first company that clicks our mind is Tesla. Elon Musk’s Tesla is undoubtedly the largest electric vehicle company globally and is simply leading the charts. However, China has never been easy for foreign brands, and Tesla was no different. Chinese companies stepped into the NEV (new energy vehicles) market and gave very tough competition to Tesla. The leading Chinese NEV company is called Nio. 

RISE OF NIO

Nio was founded in 2014, based in Shanghai, China. On the day of its launch, the company introduced its EP9 sports car. Following that, it catered to favorite Chinese SUVs, launching ES8, ES6, and the latest EC6. Chinese people love SUVs and have always looked up to brands like BMW, Audi, and Mercedes. With the advent of electric vehicles, Tesla and now Nio and other EV brands are increasing the options in the market.

COMPETITION TO TESLA

Nio continues to expand. Recently, the Chinese company launched its first-ever luxury EV sedan, the ET7. This electric vehicle is all set to give tough competition to Tesla’s popular Model S. They follow a model similar to that of Tesla, stamping its extensions in the EV market. Nio Service centers, Nio Life apparel band, and Nio power are some examples of its wings. Speaking of neck-to-neck competition, Tesla took about 12 years to produce 100,000 vehicles. On the other hand, Nio took just six years to reach this milestone. 

THE BATTERY SWAP TECHNOLOGY

One thing that differentiates Nio from Tesla is its battery swap technology. Tesla tried adopting this technology way back but had to drop it. They went with developing long-lasting batteries instead. The former on the other hand, is successfully handling this technology in its EVs. This technology allows easy replacing of batteries if they go dead or require an upgrade. The Chinese EV company has around 160 battery swapping stations across China. On the contrary, Tesla has established 2500 superchargers and 2400 destination chargers all across the country. 

PERFORMANCE

Speaking of sales, Tesla had a lead in the first half of 2020. The giant BYD sold the most EVs in China, followed by Tesla on the 2nd spot, while Nio was placed on 9th. However, Nio has overpowered Tesla since then, posting a sign of worry for Elon Musk and the company. 

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