Nio launches the Tesla Model X of China for half the price

Chinese electric car startup Nio has launched its first vehicle, the ES8. It's an all-electric, modern SUV that's a direct competitor to Tesla's Model X — and it costs half as much.

The price for the ES8 starts at 448,000 yuan ($67,697) in China, while the Model X starts at 836,000 yuan ($126,328). 

Despite being much cheaper than its U.S.-based rival, the Nio ES8 sounds like it can hold its own against the Model X. It's a large, all-wheel drive seven seater that accelerates to from 0 to 100km/h in 4.4 seconds. The only downside is it's only available in China. Read more...