Nio launches first electric sedan model as Tesla delivers China-built SUV

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CHENGDU, China/SHANGHAI (Reuters) – Chinese electric vehicle (EV) maker Nio Inc on Saturday launched its first sedan model, eyeing a greater share of the world’s largest car market.
The launch of the ET7, at an event in the western city of Chengdu, came as rival Tesla started selling its China-made Model Y sport-utility vehicle in the Chinese market.
Nio is aiming to expand its product lineup to attract more customers. In China’s passenger car market, sedans and SUVs each make up around 46% of overall sales.
Chief Executive William Li said Nio’s new battery technology will give the ET7 a drive range of over 1,000 kilometres (621 miles) between charges.
The starting price will be 378,000 yuan ($58,378) for the car without the battery pack, one of the …

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