NIO will begin deliveries of the Tesla Model 3 rivaling ET5 sedan by September 2022. Pricing will start at 258,000 yuan ($40,463) with a leased battery. This basic version will get a range of 550 kilometers (342 miles) on a single charge.

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"The all-electric ET5 was revealed by founder and CEO William Li at the annual Nio Day event in Suzhou on Saturday. With a starting price of 328,000 yuan ($51,450) before government subsidies, and 258,000 yuan ($40,463) with a leased battery, the most basic variant is designed to drive 550 kilometers (342 miles) on a single charge. The post-subsidy price for an entry-level Tesla Model 3 in China is 255,652 yuan ($40,095).

The ET5 will be available in September. Its launch follows that of Nio’s first and more-expensive ET7 electric sedan — which Li sees as a rival to Tesla’s Model S — and where deliveries are scheduled to start in March. Nio is also expected to unveil another electric vehicle in 2022.

“ET5 is a key product of us as Nio has long focused on sports utility vehicles,” Li in an interview with Bloomberg on Saturday. “We’ve been looking forward to a model with a more suitable price and a larger consumer base.”


"Carrying on the concept of the second living room, the interior of the ET5 is sophisticated with a warm touch. Clean+ sustainable fabric forms a relaxing cocooning ambiance, and improves the acoustic performance of the cabin. The smart invisible air vents keep the instrument panel visually neat and delicate. Entering and exiting will always be at ease with the soft-close doors with frameless windows and flush door handles, and the UWB digital key and smart key.

PanoCinema is the panoramic and immersive digital cockpit on the ET5, featuring AR and VR technologies. NIO has partnered with NREAL, an innovative AR device company, to jointly develop AR glasses exclusive to NIO, which can project an effective screensize of 201-inch at 6 meters. NIO also collaborates with Nolo to jointly develop the NIO VR Glasses, with ultra-thin Pancake lenses, realizing binocular 4K display effect. The 10.2-inch HDR instrument cluster further boosts the vividness of images. Enabled by the cutting-edge hardware, continuous software development and content creation, elevated by the all-new 256-color curtain ambient lighting and Dolby Atmos 7.1.4 surround sound system, PanoCinema creates an exclusive space where users can indulge all their senses.

NIO ET5 comes with the latest NIO Autonomous Driving (NAD). With NIO Aquila Super Sensing and NIO Adam Super Computing, the car will gradually achieve a safe and reassuring autonomous driving experience in scenarios such as highways, urban areas, parking and battery swapping. NAD’s full features will be gradually rolled out after development validation, and be available to users via a RMB 680 monthly subscription under ADaaS (AD as a Service)"