As far as EV startups go, Nio appears to be set in the right direction. In the span of just five years, the Chinese company has rolled out five new models. It's an impressive feat given the years the company has been in business. The four vehicles Nio currently offers includes three crossovers, a large sedan, and an EV hypercar, the EP9.

The other models in Nio's current lineup are the EC6 crossover coupe, ES6 mid-size crossover, ES8 full-size crossover, and the ET7 flagship sedan that will arrive in Chinese showrooms by early 2022. But Nio isn't stopping there, as the company has just introduced its sixth model. Dubbed the ET5, it's gunning for mass-market appeal and Tesla Model 3 sales.

In terms of styling, the ET5 looks similar to its larger brother, the ET7. Perhaps that's no surprise since the ET5 was penned with aerodynamics and efficiency in mind like the larger sedan. There are subtle differences in the lights and the front bumper, though. Most noticeable is the longer foglight housings and aero intakes on the corners. Also, the rear is shorter and has a more rounded-off tail. If you're curious as to what the pods on the roof are for, they handle the advanced driver safety suite.

Gallery: NIO ET5 Goes Live, To Go Head-To-Head Against Tesla Model 3

For those curious about dimensions, the ET5 measures 188.6 inches (4,790 millimeters) from bumper to bumper. Its width is at 77.1 inches (1,960 mm), while it stands 59.0 inches (1,498 mm) tall. Meanwhile, the ET5's wheelbase is at 113.7 inches (2,888 mm). With those figures, it's safe to say it sits in the larger end of the compact executive sedan market.

Moving to the interior, the theme is much like most EVs these days, with more screens and open spaces instead of buttons. Taking center stage is the sizable infotainment screen that's more square than rectangular. It also has a floating 10.5-inch screen that serves as the instrument cluster. The ambient lighting packs 256 colors, while audio is provided by a Dolby Atmos 7.1.4 surround sound system.

Not only that, the ET5 also has something called PanoCinema. Per the company, they call it a panoramic and immersive digital cockpit. It features AR and VR technologies via the automaker's partnership with NREAL. NREAL developed AR glasses exclusive to Nio, so it will be interesting to see it in action.

The Nio ET5 uses a two-motor system, and there are three battery options available. The combined output of those motors is good for 483 horsepower (360 kilowatts) and 516 pound-feet (700 Newton-meters) of torque. Battery options are 75 kilowatt-hours, 100 kWh, and 150 kWh.

Nio claims the ET5 will hit 62 mph (100 kmh) in just 4.3 seconds. As for range, Chinese government figures stand at 341 miles (550 km) with the 75 kWh pack, about 435 miles (700km) with the 100 kWh battery, and approximately 621 miles (1,000km) with the 150 kWh battery.

The company says they will begin delivering ET5s to customers by September of 2022. The ET5 carries a price of 328,000 yuan ($51,447 at current exchange rates), and that's before government subsidies. With those subsidies, the price goes down to 258,000 yuan, or just over $40,000. Aside from China and Norway, Nio will sell the ET5 in Germany, the Netherlands, Sweden, and Denmark in 2022. There are no mentions of US plans for now.

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