China's Nio reveals ES8 electric SUV

The ES8 could be a rival to the Tesla Model X ... if the startup achieves its production ambitions.

China-based startup Nio has revealed final production details for the ES8, an all-electric SUV that is said to be on track to roll off the assembly line next year.

The ES8 appears to be positioned as a Tesla Model X rival, pairing a high-performance drive system with three seating rows for up to seven occupants.

Dual motors are claimed to provide around 644 horsepower and 620 pound-feet of torque, capable of launching the all-aluminum chassis to 62 mph in just 4.4 seconds. An air suspension system aims to provide a comfortable yet nimble experience.

A 70 kilowatt-hour battery pack is composed of prismatic lithium iron phosphate (LiFePO4) square cells, claimed to support 2,000 charge cycles and a range of more than 310 miles at a constant 37 mph.

Semi-autonomous capabilities rely on an off-the-shelf system build by Intel's MobilEye, enabling automatic emergency braking along with more advanced features such as Highway Pilot and Traffic Jam Pilot.

Pricing is set at RMB 448,000 (~$67,700 USD) before subsidies -- just over half the local price of a Tesla Model X. Buyers can also opt for a battery rental program that shaves $15,000 off the purchase price, spreading the battery price across monthly payments of $193.

The ES8's specifications, overall design and price structure would not seem outlandish if announced by a major automaker for an upcoming mass-market EV. The strategy is bold yet seemingly cautious, hinting at a more serious strategy than that of troubled rival Faraday Future.

Recent reports suggest Nio succeeded in raising more than $1 billion in its latest funding round, with an estimated valuation of $5 billion, suggesting the company may be better prepared than FF to achieve its plan of a US market entry by 2020.