New models from carmakers including Nio and Seres also challenge Tesla’s bestselling Model Y and cars from luxury German marques
“Intensified efforts to gain ascendancy in the premium segment show the carmakers’ confidence in their technologies,” said Chen Jinzhu, CEO of consultancy Shanghai Mingliang Auto Service, adding that among cars priced above 300,000 yuan (US$44,254), the battle was often “on the technological front, rather than pricing”.
Shanghai-based Nio priced its ES9 SUV, which has a range of 580km, at 498,000 yuan on Wednesday. The company bills the new model as the market’s largest pure-electric SUV. The car was designed for family use but could also be an alternative to a multi-purpose vehicle for commercial buyers, Nio said.
Source: News - South China Morning Post
