Chinese company Nio launched their new EV (WARNING auto play video) this weekend and aim to compete against the Tesla Model X in their market. The ES8 starts at half the price of the Model X and might put a dent in Tesla sales in China. Also, they have a unique subscription that you pay per month that lets a customer pull into a station and have their battery pack replaced in 3 minutes with a fully charged pack. However, it's only for the rich because that subcription costs about $19K per month according to CNBC. Interesting idea, but that price is bonkers. We'll see over the next months how this is selling and whether or not Tesla tries to compete on price. A seven-seat electric vehicle, the ES8 is made to order, customizable and equipped with an artificial intelligence system. The car will be able to accelerate to 100 km per hour (62 miles per hour) in 4.4 seconds. Orders can be placed through an app.