What is NIO, and why should I care about the ES8?

NIO is an extremely well-funded EV startup based in China with expertise from all over the world, including Europe and California. Led by CEO William Li, the company has raised over $1 billion in funding with the help of tech giant Tencent. NIO is currently focused on the Chinese market, which uncoincidentally is the world's largest market for cars.

The ES8 is NIO's first mass-market vehicle (they also sell the EP9, a low-volume hypercar). Whereas most EVs are compromised in range and size, or Tesla priced, the all-electric ES8 promises to be a game changer by offering high-performance SUV capability for less money than its gasoline-powered rivals.

The ES8 certainly looks impressive on paper. It's the size of an Audi Q7 or Volvo XC90, with seating for seven adults. Powered by dual 240 kW (322 HP) motors, it goes from 0 to 100 km/h (62 mph) in 4.4 seconds. The 70 kWh battery pack is good for 355 km on the NEDC test cycle (we estimate 190 miles on the EPA cycle). Mobileye's EyeQ4 chip powers a suite of autonomous driver assist features named NIO Pilot. The body is all-aluminum.

How much does it cost?

In China, the ES8 starts at 448,000 RMB ($69,790 USD) including the battery, or 348,000 RMB ($54,210 USD) if you opt for a battery subscription at 1,280 RMB per month ($199 USD per month). The Founders Edition with every option imaginable adds 100,000 RMB ($15,610 USD) to the base price.

While not cheap, it's competitively priced in the Chinese market, where cars are generally more expensive. For example, a locally-made Mercedes GLC 300 compact SUV retails for 489,800 RMB ($76,310 USD) in China, compared to $40,050 in the U.S. The imported Tesla Model X 75D SUV sells for 775,000 RMB ($120,795 USD), after recent price reductions, compared to $79,500 in the U.S.

In other words, the NIO ES8 is priced like a smaller vehicle in the compact luxury SUV segment, and it's about half the price of a seven-seat Model X 75D in China.