NIO ET5: Tesla Model 3 competitor with up to 620 miles of range unveiled

The automobile industry's inevitable turn to electric cars is the perfect opportunity for new companies to disrupt this still relatively young and fast-growing market. After pioneers like Tesla have already become more than just serious competitors for established carmakers around the world, an increasing number of electric cars from Chinese brands could soon hit the road in many international markets.

While many Xiaomi fans are still waiting for the official launch of the highly anticipated Mi car, the Shanghai-based company NIO has now unveiled its Tesla Model 3 competitor, which is called the ET5. The NIO ET5 may be the most important volume product for the electric car company which was founded seven years ago. This compact electric sedan supposedly comes with an impressive range of up to 620 miles in the top-configuration, while the US$41,000 "battery as a service" model could undercut Tesla's Model 3 entry pricing by around 10%.

Depending on the configuration, the NIO ET5 is equipped with a 75, 100 or 150 kWh battery which provides enough power to propel the electric car from 0 to 100 kph in 4.3 seconds. Tech enthusiasts will also be delighted to hear that the ET5 sports an HDR-capable 10.1-inch instrument cluster and a 7.1.4 Dolby Atmos surround sound system. More technical details and specs on the intriguing electric sedan from China can be found in the official press release. NIO has announced that its larger sedan, the ET7, will become available in several European markets like Germany and Norway in 2022, but the company apparently has much bigger ambitions and plans to expand to over 25 countries by 2025.

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