Tesla Rival Nio Has Huge News About Its New Electric SUV

A Tesla Chinese rival shocks the electric vehicle industry with some unexpected news.

Popular electric vehicle makers, such as Tesla  (TSLA) - Get Free Report, can't deliver new EVs fast enough.

Anticipation for Tesla's new Cybertruck EV has been unmatched in the industry, since the company's CEO Elon Musk unveiled plans for the futuristic vehicle four years ago.

Musk on April 19 said that the company will make the first deliveries of the Cybertruck in the third quarter of 2023.

"We're anticipating having a delivery event, a great delivery event probably in Q3," Musk told investors during Tesla's first quarter's earnings' call.

The tech mogul didn't give an exact date but later said the delivery event should take place "around end of Q3."

The Cybertruck is expected to accelerate from 0-60 mph in 2.9 seconds and have up to 500 miles of range on a charge. The company said that the pickup truck would have a payload capacity up to 3,500 pounds and a towing capability of over 14,000 pounds.

Tesla has not revealed the Cybertruck's manufacturer suggested retail price yet, but auto industry experts estimate a base price could be about $40,000.

Electric Vehicle Makers Delivering Models

Other electric vehicle makers have revealed new models that will deliver months after Cybertruck hits the road. The Netherlands-based Stellantis  (STLA) - Get Free Report  on April 5 unveiled details on its all-electric 2025 Ram 1500 REV, its first battery electric light-duty pickup truck that will be built in the US, which will be available in the fourth quarter of 2024.

The Ram 1500 REV will have an optional 229 kilowatt-hour large battery pack with a targeted range of up to 500 miles, which matches the Tesla Cybertruck stated range.

General Motors  (GM) - Get Free Report is hoping a new model will improve on the recent extremely low sales of its GMC Hummer EV after only delivering two vehicles in the first quarter of 2023 compared to 854 sales in 2022.

The Detroit automaker on April 21 unveiled its latest supertruck, the 2023 GMC Hummer EV 3X, with enhanced specifications featuring an estimated driving range of 355 miles on a full charge, compared to 329 miles for the 2023 GMC Hummer EV Edition 1 Pickup and the 3X Pickup with Extreme Off-Road Package.

The 2023 GMC Hummer EV 3X also has a higher towing capability of 8,500 pounds compared to 7,500 on its other two models. It also accelerates 0-60 in about 3 seconds, which is very close to Tesla's Cybertruck acceleration.

GM also debuted its new 2024 GMC Hummer EV Edition 1 and GMC Hummer EV 3X SUVs, both models with standard 22-inch wheels or Extreme Off-Road packages. The standard models have maximum 314-mile range and Extreme Off-Road models have a maximum 298-mile range.

Prices for the GMC Hummer EV pickups and SUVs are not listed on the GMC website, but Kelly Blue Book estimated the pickups at $84,650 to $104,650. Reservations are full for the Hummer EV pickup and delivery dates were not mentioned, but GM suggests interested parties check out the Hummer EV website for more details.

Tesla's Cybertruck, which is its first new model since it rolled out its Model Y SUV in March 2019, might be getting a jump on new EV models from GM and Stellantis, but Chinese rival Nio already delivered its newest EV.

Nio Delivers Its New Coupe SUV 

Hefei, China EV maker  (NIO) - Get Free Report at its Nio Day 2022 in December said that it would deliver its electric SUV EC7 in May and ES8 in June. However, Nio surprised the EV market in its mobile app on April 28 revealing that it had launched deliveries of its coup SUV EC7 three days before May.

When Nio introduced the EC7 in December, it said the coupe SUV had the lowest drag coefficient in the world as low as 0.23. The EC7 comes standard with the active spoiler, a first-time for NIO’s production models, which improves the aerodynamic performance of the EV.

Nio on April 1 reported it delivered 10,378 EVs in March, including 7,175 smart electric sedans and 3,203 smart electric SUVs, and 31,041 overall for the first quarter.