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China Money-backed Startups Pose Challenge to Tesla

March 20, 2017 09:21|March 20, 2017 09:21
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A group of startups backed by China money released a string of new models, posing challenge to Tesla. NIO, a startup headquartered in China's Shanghai gained attention by unveiling its self-driving electric concept car NIO Eve at the South by Southwest (SXSW) festival, held in Austin in Texas. NIO said the Eve would be marketed from 2020.


Padmasree Warrior, CEO of NIO U.S., said in her interview with Fortune, "The Eve would also be sold in Europe after making first entry into the United States." The NIO Eve features a sliding door and a fully foldable backseat. In the area of self-driving technology, NIO is set to cooperate with Mobileye, Nvidia, and NXP.


NIO rolled out a 1,342-horsepower supercar "EP9" last year. Without a driver in the seat, the EP9 ran the course of the Circuit of the Americas in Austin in 2 minutes and 40.33 seconds, the fastest among all self-driving cars.