new updates providing publish in various newspaper reporting from the heart of crises around the world. News, analysis, investigations about issues impacting the world and other Covers the latest international news, investigations, and analysis from Africa, the Americas, Asia, Australia, Canada, Europe, the Middle East, and the U.K.
China's Nio unveils Tesla Model Y rival
Get link
Facebook
X
Pinterest
Email
Other Apps
-
The L60 is aimed to rival Tesla's Model Y
Chinese electric vehicle (EV) maker Nio has unveiled the first car from its new lower-priced brand NoVo, in a direct challenge to Tesla's best-selling car.
With prices starting at 219,900 yuan ($30,465, £23,990), the L60 SUV is more than 10% cheaper than the world's most popular EV, Tesla's Model Y, which has a price tag of 249,900 yuan.
It comes in the same week that US President Joe Biden announced he would quadruple the import tax on electric cars from China.
Like other EV makers, Tesla has been struggling with falling sales in the face of intense competition from Chinese brands.
The vehicle was unveiled in Shanghai by Nao's chief executive, William Li, who said the company aimed to rival Tesla's Model Y and the Toyota RAV4.
"With technologies evolving and people’s understanding in smart EVs deepening, today it’s time for us to redefine the new standards for family cars," Mr Li said.
The company has started taking orders for the L60 and aims to begin deliveries by September.
Nio executives said they have plans to launch a new Onvo model a year as part of efforts to expand into the family car market.
The brand could also help Nio build up its presence outside its home country.
However, it faces 100% tariffs in the US and an ongoing anti-subsidy probe launched by the European Union into EV imports from China.
Electric car brands around the world are facing major challenges as they face slower sales and increased competition.
In April, Tesla started to lay off more than 10% of its global EV workforce.
Later that month, the company announced its profits for the first three months of the year had fallen by more than half compared to the same time last year.
Meanwhile, China's BYD said its profits had fallen as it was hit by weaker demand and a price war in the world's largest car market.
Nio staff pose for a group photo with the company’s 500,000th vehicle at the Hefei plant in east China’s Anhui province on May 9, 2024.PhotXinhua
Nio said the new brand, known as Leda in Chinese, is built for mainstream Chinese consumers with the aim of creating an enjoyable driving experience for families.
Currently, all cars under Nio’s namesake brand are priced at more than 300,000 yuan on the mainland. Nio-branded cars compete against the likes of BMW’s X5 and Audi’s Q7.
Unlike other EV makers that have been adjusting prices to bolster deliveries in the highly competitive market, Nio has avoided discounts, which Li said was a deliberate tactic to maintain its brand value.
Peter Bergman, the beloved actor best known for his long-running role as Jack Abbott on the popular soap opera "The Young and the Restless," has passed away at the age of 71 On date 20-07-2024. His passing marks the end of a remarkable career and leaves a significant void in the hearts of his fans and colleagues. Peter Bergman, the beloved actor known for his role as Jack Abbott on "The Young and the Restless," passed away due to cause of accident Born on June 11, 1953 , in Guantanamo Bay, Cuba, Bergman embarked on his acting career in the late 1970s . He gained initial fame with his role as Dr. Cliff Warner on " All My Children ," where he starred from 1979 to 1987 . However, it was his portrayal of Jack Abbott on "T he Young and the Restless ," starting in 1989 , that cemented his status as a daytime television icon. Throughout his tenure on " The Young and the Restless, " Bergman's character, Jack Abbott, became one of the most...
It is with deep sadness that we announce the passing of Clive Fleury, former Chair of Freshwater Parish Council. Clive passed away peacefully on June 30, 2024, due to complications from a stroke, leaving behind a legacy of dedicated public service and community spirit. Clive Fleury, former Chair of Freshwater Parish Council, passed away on June 30, 2024, due to complications from a stroke. Born on March 12, 1950, Clive spent his life committed to the betterment of his community. He served as Chair of Freshwater Parish Counci l for over a decade, from 2008 to 2019 , and his tenure was marked by significant achievements and positive changes. Under his leadership, numerous community projects were initiated and completed, enhancing the quality of life for Freshwater residents. Clive was known for his unwavering dedication, approachable nature, and ability to bring people together. His leadership style was inclusive and collaborative, ensuring that all voices in the community were heard an...
It is with profound sorrow that we announce the passing of Ahmed Refaat tragically passed away due to a sudden cardiac arrest. His untimely death has left the sports community and his countless admirers in deep mourning. His vibrant spirit and impactful legacy will be remembered fondly by all who knew him. Ahmed Refaat passed away on July 5, 2024. His sudden death has left a void in the hearts of his family, friends, and countless fans who admired him for his talent and character. Ahmed Refaat was born on June 15, 1989, in Cairo, Egypt . His early years were marked by a burgeoning talent for soccer, which he pursued with passion and dedication, ultimately becoming one of Egypt's most celebrated soccer players. Ahmed's influence extended beyond his impressive athletic achievements. He was known for his sportsmanship, humility, and generosity, consistently using his platform to give back to the community. His commitment to mentoring young athletes and advocating for sports develo...
Comments
Post a Comment