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Here’s what Nio’s first sedan to rival Tesla in China looks like

  • Nio revealed its et7 sedan on Saturday with a pre-subsidy starting price of 448,000 yuan ($69,000).
  • The electric car can work with Nio's new autonomous driving system that features technology that founder William Li claims surpasses that of Tesla.
  • Deliveries for the et7 are set to begin in the first quarter of 2022, Li says.

William Li, founder and chairman of Nio, shares features of the et7 sedan at a launch event in Chengdu, China, on Jan. 9, 2021.Evelyn Cheng | CNBC

BEIJING — Chinese electric car start-up Nio released its first sedan on Saturday with self-driving technology features that the company claims surpass that of Tesla.

Pre-subsidy prices for the et7 sedan start at 448,000 yuan ($69,000) with a 70 kilowatt-per-hour battery pack. If customers choose to pay for battery services based on a 980 yuan monthly subscription fee, the vehicle costs 378,000 yuan.

Deliveries are set to begin in the first quarter of 2022, company founder and chairman William Li said at a launch event in Chengdu, China. Pre-orders began Saturday.

Nio revealed its first sedan, the et7, on Jan. 9, 2021.Evelyn Cheng | CNBC

Nio's et7 sedan can work with the company's new autonomous driving system that features camera resolution of 8 megapixels — versus 1.2 megapixels for Tesla — and Nvidia processing chips that offer processing power greater than that of seven Tesla full self-driving computers, Li claimed.

The autonomous driving system costs 680 yuan a month, Li said.

Tesla's China-made Model Y is slated to begin deliveries as early as April with a price tag of 339,900 yuan, according to the company's website as of Saturday.

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