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Chinese Tesla Rival NIO Beat Its 2018 Sales Guidance -- but 2019 Will Be Tougher

Chinese Tesla Rival NIO Beat Its 2018 Sales Guidance -- but 2019 Will Be Tougher. The ES8, an upscale battery-electric three-row SUV positioned as a domestic Chinese alternative to Tesla's (NASDAQ: TSLA) Model X, went into production in late June. He said the company will continue to focus on market penetration in 2019, emphasizing service as a differentiator. While CFO Louis Hsieh said he was "pleased" with NIO's production ramp and delivery totals in 2018, he noted that the company's strong year-end total was due in part to a reduction in government subsidies for electric vehicles that took effect at the beginning of 2019. It's one size smaller than the ES8, with longer range and a lower price. But if Tesla can deliver the Model Y to Chinese customers at a competitive price, NIO may find itself watching its big American rival run away with its hoped-for sales.

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