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NIO: How the Chinese EV Startup Got Its Start

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According to TheStreet's Jim Cramer, NIO could be the next Tesla.

The Chinese electric automaker's latest all-electric sedan, the ET7 offers two battery options, 70 kWh and 100 kWh that provide a range of 311 miles and 435 miles, respectively. By late 2022, there also will be a 150 kWh battery version that will go 620 miles on a single charge, according to the company. 

As TheStreet's Corey Goldman points out, this puts it in direct competition with Tesla's Model 3 

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NIO: History of the Chinese Electric Car Company

The Tesla rival was founded in 2014 by William Li and filed for a $1.8 billion IPO in 2016 on the NYSE. That same year it opened its first three-minute charging station in China and was issued an "autonomous vehicle testing permit" in California.

The automobile maker is headquartered in Shanghai.

While its focus is electric vehicles for consumer use, NIO,  (NIO) - Get NIO Inc. (China) Report has also created the first single-seater, all-electric racing series.

NIO's latest earnings report was positive as it beat Wall Street's expectations as second-quarter vehicle sales surge 127%

The company's Chinese name is Weilai, which means Blue Sky Coming and is represented in the company's logo.

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