Will The Launch Of The Latest EV Model And Battery Pack By The Ambitious Chinese EV Start-Up Be Enough to Guarantee Improvement From Its Current Financial Woes. Only Time Will Tell!
NIO, the Shanghai headquartered Chinese EV start-up has unveiled its latest production vehicle, the all-electric NIO EC6 SUV.
NIO, founded in 2014, is also involved in the ABB FIA Formula E championships. Weilai, the company’s Chinese name means ‘Blue Sky Coming’. Other battery-electric vehicles (BEVs) in the NIO portfolio include the all-electric NIO EP9, the all-electric NIO ES8 and the all-electric NIO ES6.
The company is listed on the New York Stock Exchange (NYSE) and currently only sells in China, where it has 66 stores. The Chinese automotive company, backed by Tencent, has had a challenging 12 months, in particular, in relation to its financial position. Indeed, in the company’s third-quarter update, it stated “The Company’s cash balance is not adequate to provide the required working capital and liquidity for continuous operations in the next 12 months.”
We will need to ‘wait and see’ if the third production electric vehicle and the new liquid-cooled EV battery pack will help the start-up stabilize.
The All-Electric NIO EC6 SUV
- The NIO EC6 is a compact coupe pure electric SUV positioned to compete against the Tesla Model Y, the Hyundai Kona electric and the MG ZS EV.
- The electric vehicle will be initially available in China, its home market and in Europe later in 2020. The EV was unveiled in Shenzhen on the company’s ‘NIODay 2019’ at the end of 2019.
- The EC6 is expected to be available in two variants, the ‘Performance’ and the ‘Sporty’. The latter is the entry-level model. Both variants will be powered by two electric motors.
- The zero-emission Sporty variant is expected to come with a 70 kWh lithium-ion battery with a range up to 264 miles (NEDC) and 400 brake horsepower. It is expected to achieve 0-62 mph acceleration in 5.6 seconds.
- The Performance variant will also have a 70 kWh battery and a range up to 270 miles (NEDC). This variant will have over 500 brake horsepower with 0-62 mph in 4.7 seconds. The EV will have a 160 kW permanent magnet motor in the front axle and a 240 kW motor at the rear.
- The Chinese automobile manufacturer will also offer an option for a 100 kWh liquid-cooled thermostatic EV battery pack with a range up to 382 miles (NEDC) from 4th quarter 2020.
- Prices yet to be confirmed but is expected to be released in July 2020, with deliveries commencing in September 2020.
Battery And Range
- Battery capacity: 70 kWh
- Battery type: lithium-ion
- Range (NEDC): 264 – 270 miles
- Capable of rapid charging
Power & Performance
- 0-62 mph: 4.7 to 5.6 seconds
- Top speed: N/A
- Brake horsepower: 400 – 500 bhp
- Torque: N/A
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