December 18, 2017

Competition is heating up for Tesla in the world's biggest market for electric cars.
Shanghai-based startup NIO is the latest Chinese company to try to get in on the action. It unveiled a 7-seater electric SUV at a glitzy launch event in Beijing over the weekend.
Starting at 448,000 yuan (about $68,000), the NIO ES8 is nearly 50% cheaper than Tesla's Model X, which sells for 836,000 yuan (about $127,000) in China.
NIO is also offering some Tesla-esque features and perks, including an in-car artificial intelligence system and a charging portal that it says will let drivers change their car batteries in just three minutes.

This Chinese startups electric SUV is a lot cheaper than Teslas

NIO President Lihong Qin told CNN his company plans to "target the middle class in the big cities in China," predicting that market will double in size in the next four to six years.
China is already a major market for Tesla (TSLA). It reported revenues of more than $1.5 billion from the country in the first nine months of this year, up from just $570 million in the same period a year earlier.
Qin insists that NIO isn't planning to go head-to-head with Elon Musk's company.
"Of course, we can compete against Tesla, technologically and product-wise," he said.
But "there is no winner-take-all rule in this industry," Qin added. "If we can be ourselves and we do what we think is right, we will have our market share. We don't need to care about the competition too much."


NIO is a 3-year-old startup that now employs more than 4,000 employees across China, Europe and the U.S. It has some deep-pocketed investors, including Chinese tech giants Tencent and Baidu and U.S. venture capital firm Sequoia Capital.
The company is working on expanding its charging network across the country, with a goal of 1,100 stations by 2020.
Building that infrastructure "will be a big challenge in China," Qin said. And the high population density in larger Chinese cities means people can't install charging facilities in their own garages, he explained.
The company is proposing ways to try to make it easier for its customers keep their cars charged, including a monthly subscription plan to rent batteries, and vans that function as mobile charging stations.
These so-called "Power Mobile" vehicles will give NIO cars enough electricity to drive 100 kilometers from just a 10-minute charge. It wants to have 1,200 of the vans on the roads by 2020.

This Chinese startups electric SUV is a lot cheaper than Teslas

The company also wants to eventually expand sales beyond China, including to the U.S. It already has offices around the globe, including in California, London and Munich.
But in China, it's entering an already crowded market for electric cars.
The country is already home to companies that have been focused on electric vehicles for years such as BYD (BYDDF), which is backed by Warren Buffett.
Meanwhile, many of China's top traditional carmakers are pouring resources into the technology, and a flurry of international auto giants have announced plans recently to make electric vehicles in China.
The industry in China has long benefited from significant government subsidies that aim to cut down on pollution. NIO pointed out on Saturday that the base price for its new SUV was listed "before subsidies."
Other features it hopes will attract consumers include a deal with Chinese e-commerce company JD.com, which will allow goods ordered online by an NIO driver to be dropped directly into the car's trunk by a delivery worker using a one-time code.
Business
Global Vehicle to Grid Market 10 Year Forecast Report 2024-2034 - Supportive Government Regulations and Financial Incentives for V2G Deployment
DUBLIN, March 18, 2024 /PRNewswire/ -- The "Vehicle to Grid (V2G) Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering. World revenue for Vehicle-to-Grid (V2G) Market is forecast to surpass US$ 4.31 billion in 2024, with strong revenue growth through to 2034. Escalating Demand for Electricity, Coupled With a Global Commitment to Reduce Reliance on Fossil Fuels, Resulting in a Surge in the Adoption of Electric VehiclesThe vehicle-to-grid (V2G) market is witnessing unprecedented growth driven by a confluence of factors shaping the future of sustainable transportation and power management. Key drivers include the escalating demand for electricity, coupled with a global commitment to reduce reliance on fossil fuels, resulting in a surge in the adoption of electric vehicles (EVs). This market is characterized by opportunities that lie in the integration of renewable energy sources, such as solar and wind, to meet energy demands, while also addressing challenges associated with the variable nature of these sources.The primary driver for the V2G market is the escalating demand for electricity worldwide. Governments and industries are increasingly recognizing the need for sustainable and low-emission solutions, driving the widespread adoption of EVs. The electrification of the transportation sector not only addresses environmental concerns but also provides a unique opportunity for EVs to serve as mobile energy storage units. This bidirectional flow of power, where EVs can both draw and supply energy to the grid, is a key driver propelling the V2G market forward.Opportunities in the V2G market are abundant, particularly in the integration of renewable energy sources. As countries strive to meet ambitious renewable energy targets, V2G technology becomes an enabler for managing the intermittent nature of solar and wind power. This creates opportunities for smart grid solutions and advanced energy storage systems. Additionally, the idle times of parked EVs present an untapped opportunity for bidirectional ...Full story available on Benzinga.com
Related Stories
Latest News
Top news around the world
Academy Awards

‘Oppenheimer’ Reigns at Oscars With Seven Wins, Including Best Picture and Director

Get the latest news about the 2024 Oscars, including nominations, winners, predictions and red carpet fashion at 96th Academy Awards

Around the World

Celebrity News

> Latest News in Media

Watch It
Olivia Munn Reveals Breast Cancer Diagnosis and Double Mastectomy Procedure | E! News
March 13, 2024
kUaEV1Kd3S0
Travis Kelce Shares Details From His Trip to Singapore With Taylor Swift | E! News
March 13, 2024
3YXi-Dgf4eg
Kate Middleton VIRAL Photo: Agency Addresses Photoshop Claims | E! News
March 13, 2024
S4VkO0TpkCY
Da'Vine Joy Randolph Plays 'Smash or Pass' With Iconic Moments From Her Career
March 13, 2024
vkPdJEF2BX4
Jean Smart Wears a Hotel Bathrobe to Present an Award to Hannah Einbinder l Power of Comedy SxSW
March 12, 2024
Bw7uVEYQev4
Lenny Kravitz Walk of Fame Ceremony
March 12, 2024
MlWq8BcnwhE
Dak Prescott Extortion Plot & Steph Curry for President? | TMZ Sports Full Ep - 3/12/24
March 13, 2024
jHFsrjs7OFY
A Japanese space rocket blew up after takeoff Tuesday, turning the sky into a fireball of smoke.
March 13, 2024
YkfJ3Qg8B7c
#KimKardashian and #BiancaCensori hung out at #KanyeWest's listening party Tuesday night!
March 13, 2024
EfwLLq6bx9k
‘Pioneer Woman’ Ree Drummond denies using Ozempic to lose 60 pounds
March 13, 2024
Omfjk1AlZ3A
Chrissy Teigen reveals her ‘boob lift scars’ in daring dress at Jay-Z & Beyoncé’s Oscars 2024 party
March 13, 2024
VxZ2qXAlpmU
Zoë Kravitz pokes fun at dad Lenny Kravitz's style during Hollywood Walk of Fame speech
March 13, 2024
j3-lcFu_1sQ
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
17
Mar
SPAIN: La Liga
Atletico Madrid - Barcelona
17
Mar
ENGLAND: FA Cup
Manchester United - Liverpool
17
Mar
ITALY: Serie A
Inter Milan - Napoli
17
Mar
GERMANY: Bundesliga
Borussia Dortmund - Eintracht Frankfurt
17
Mar
ENGLAND: FA Cup
Chelsea - Leicester City
17
Mar
ITALY: Serie A
Roma - Sassuolo
17
Mar
ITALY: Serie A
Verona - AC Milan
17
Mar
ITALY: Serie A
Juventus - Genoa
17
Mar
GERMANY: Bundesliga
SC Freiburg - Bayer Leverkusen
17
Mar
USA: Major League Soccer
Atlanta United - Orlando City
17
Mar
ENGLAND: Premier League
West Ham United - Aston Villa
17
Mar
SPAIN: La Liga
Rayo Vallecano - Real Betis
17
Mar
ENGLAND: Championship
Leeds - Millwall
17
Mar
SPAIN: La Liga
Las Palmas - Almeria
17
Mar
SPAIN: La Liga
Villarreal - Valencia
17
Mar
SPAIN: La Liga
Sevilla - Celta Vigo
16
Mar
GERMANY: Bundesliga
Darmstadt - Bayern Munich
16
Mar
ENGLAND: FA Cup
Manchester City - Newcastle United
16
Mar
ENGLAND: Premier League
Fulham - Tottenham Hotspur
16
Mar
SPAIN: La Liga
Osasuna - Real Madrid
13
Mar
CHAMPIONS LEAGUE: 1/8 Final
Atletico Madrid - Inter Milan
12
Mar
CHAMPIONS LEAGUE: 1/8 Final
Barcelona - Napoli
12
Mar
CHAMPIONS LEAGUE: 1/8 Final
Arsenal - Porto
11
Mar
ENGLAND: Premier League
Chelsea - Newcastle United
10
Mar
ENGLAND: Premier League
Liverpool - Manchester City
10
Mar
SPAIN: La Liga
Real Madrid - Celta Vigo
10
Mar
ENGLAND: Premier League
Aston Villa - Tottenham Hotspur
10
Mar
ITALY: Serie A
Juventus - Atalanta
10
Mar
ITALY: Serie A
Fiorentina - Roma
10
Mar
ITALY: Serie A
AC Milan - Empoli
09
Mar
GERMANY: Bundesliga
Werder Bremen - Borussia Dortmund
09
Mar
ENGLAND: Premier League
Arsenal - Brentford
09
Mar
ITALY: Serie A
Bologna - Inter Milan
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.