NIO had a clear goal in mind when it unveiled its new sedan ET5, to compete with the Tesla Model 3.
Unveiled at the automaker's recent Nio Day event, the ET5 is a hatchback measuring 185 inches in length, meaning it's about the same size as the Model 3, which is also assembled in China for local distribution. The ET5 is scheduled to start deliveries in China this year.
The ET5 will launch with 75-kWh, 100-kWh, and 150-kWh battery pack options. The largest pack, dubbed the Ultralong, will allow for 960 kms of range on the Chinese testing cycle, according to Nio. That would likely translate to a lower number on the EPA testing cycle, however.
The electric drive system features a 150 kW induction motor in the front and a 210 kW permanent magnet motor at the rear, making high performance, better safety, and redundancy a reality. It continuously distributes power for different driving scenarios. In addition, the permanent magnet motor uses the SiC power module to reduce both energy consumption and noise. This dual-motor all-wheel drive powertrain generates 360kWs, which will get the ET5 from 0-100kph in 4.3 seconds, according to Nio.
Nio claims the ET5 will ship with the sensors and computers for limited autonomous driving for highways, urban areas, and maneuvering into parking spaces and the company's battery swap stations. This feature will roll out at an unspecified future date as a monthly subscription service, the company said.
Pricing starts at 328,000 yuan (approximately $72,000 AUD ) and buyers can get a 70,000 yuan ($15,400 AUD) discount if they choose Nio's battery subscription option. Nio has already shown the strength of this so-called Battery as a Service (BaaS) business model by offering a pack upgrade to those who go the BaaS route.
Nio also operates a network of battery swapping stations in China, and it recently partnered with Shell to expand both battery swapping and conventional charging infrastructure.
The automaker doesn't sell cars in Australia at present, but it launched in Norway last year. Nio plans to expand to Germany, the Netherlands, Sweden, and Denmark this year and wants to be established in 25 countries and regions by 2025, according to a company press release.
In addition to the ET5, Nio plans to launch the larger ET7 sedan this year as well. Its current lineup also includes the EC6, ES6, and ES8 crossover SUVs. Its first production vehicle was the low-volume EP9 supercar.
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