Get to Know Nio, A U.S.-Bound Brand from Chinese Startup NextEV

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What’s next for Chinese electric-car startup NextEV? The company provided a peek into its future at the South by Southwest Conference and Festivals in Austin, Texas. Taking the name Nio (not an acronym, the name is inspired by the Greek neo), it unveiled a forward-looking concept called Eve, previewing an EV the company hopes to launch in the U.S. market in 2020.

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The Eve concept’s one-box design is highlighted by a helicopter-style glass canopy; superior visibility is a key characteristic. And it features an ultra-spacious interior with five-plus-one seating; the plus-one can be folded down from the front passenger seat.

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Although the Eve is equipped for Stage 5 fully autonomous driving, it features a steering wheel and pedals in case a driver wishes to take over. There isn’t a lot of storage space. “We figure the occupants will want to use what they take along for the trip,” explained Kris Tomasson, vice president of design at NextEV.

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The vehicle planned for the U.S. market will be somewhat futuristic and spacious; it’s likely to feature third-row seating. It will be fully electric and offer Stage 3 and Stage 4 autonomous-driving capability. The U.S.-bound model will be preceded by the launch of a fully electric SUV in the company’s home market of China. Internally called ES8, that model is due out in 2018.

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Nio’s credibility is bolstered by the brand’s fully electric EP9 supercar, of which the company has produced and sold six units at the equivalent of almost $ 1.3 million each. The EP9’s electric powertrain produces one megawatt, or 1342 horsepower, and top speed is claimed to be 194 mph. Last October, it set a record for EVs on the Nürburgring Nordschleife at 7:05.12 seconds, and on February 23, 2017, it set an autonomously driven lap record of 2:40.33 at the Circuit of the Americas.

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Additionally, Nio competes in the all-electric Formula E race series; the team was granted constructor status for the 2016–2017 season.

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When Nio launches on the U.S. market, the brand could face a competitive set that includes newer players such as Tesla, Faraday Future, and Lucid as well as EV offerings from established carmakers including BMW, Audi, and Mercedes-Benz.

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How do they plan to compete? “We don’t aim to sell electrics through emotional blackmail,” said a Nio executive. “They should be seen as the all-around better choice.”

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