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With the start of 2021, the domestic new energy vehicle market is extremely hot. Tesla Model Y officially went on sale on January 1. The long-lasting and high-performance models were reduced by 148100 yuan and 165100 yuan compared with the pre-sale price, and finally the starting price came to 339900 yuan and 369900 yuan. Tesla's price reduction instantly "detonated" the new energy market, the official website crashed, stores were crowded, order calls were exploded, and the market value of new energy concept stocks soared.

On January 9, the third production model, ET7, was officially launched. the price of the whole car is 448000 yuan before the subsidy for the 70kWh battery version and 506000 yuan for the 100kWh battery version, and the delivery time is expected to be in the first quarter of 2022.

The starting price of the ET7 is 44.8-528000 yuan, making it the highest-priced domestic pure electric car at present. As a new car-building company, the high price of ET7 does "scare" many viewers. In the live broadcast that night, netizens commented one after another that "the car is too cold to tolerate", "excuse me, goodbye", "the price scares me to death" and "it will be a big sell if it is cold".

The sharp price reduction of Tesla Model Y is in sharp contrast to the high starting price of Xilai ET7. However, NIO is not worried about the high price of the car, because it does not want to compete with Tesla at all. In other words, NIO did not pay attention to Tesla.

When launching the new car, Li Bin, founder of NIO, said that BMW Audi, a short-term competitor of NIO, could be a long-term competitor to Apple. If it really competes with Tesla, it is also competing with Model S. Li Bin believes that the sales volume of Tesla Model S is definitely no better than that of ET7, and Model X is not a competitor to ES6 and ES8. Qin Leehom, co-founder of NIO, said that there are relatively few products that can compete with ET7 in the short term. After all, NIO's standard configuration is the highest configuration of others, which is a bit unethical.

On the eve of the press conference, Qin Leehom responded on the official APP that the target of the ET7 is the BMW 7-Series. However, if you look at the price, the price range of the ET7 only overlaps with the BMW 5-Series, which is a far cry from the BMW 7-Series. Therefore, from the perspective of Lulai, with the in-depth localization of Tesla and the continuous reduction of prices, it has been very difficult to compare prices with Tesla, and can only continue to launch high-end products, enhance high-end brand image, and seize the high-end luxury car market. In other words, Tesla wants to be Toyota and Volkswagen, car products that domestic consumers can afford, while Xilai's high-profile BBA is to stagger the competition at Tesla, while keeping a distance from Tesla, who is increasingly "low-end" due to continuous price cuts, aiming at the traditional luxury new energy vehicle market, where the layout of the new energy vehicle market is slow.

There is a view that the launch of the new car is very special, especially the 150kWh battery can make the vehicle's mileage reach 1000km, effectively solving the problem of pure electric vehicle range, but its delivery time will not be until the fourth quarter of 2022. In this long waiting time, the market is full of uncertainty, and at the same time, it raises the expectations of its products, which undoubtedly increases the popularity of Ulai in the market.

By the end of January 8, US stocks closed up 8.55 per cent to $58.92 per share, with a total market capitalization of $92 billion, or about 596 billion yuan, more than many traditional domestic automakers.

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