(Yicai Global) Dec. 17 -- Up-and-coming Chinese electric automaker Nio has unveiled its second commercial sport utility vehicle, a car comparable with major battery electric SUVs such as the Tesla Model 3, Roewe Marvel X and BYD Tang.

Founder and Chief Executive William Li announced the release of the ES6 at Nio Day 2018, an annual company party which this year was attended by American singer-songwriter Bruno Mars and Lei Jun, founder of Chinese smartphone maker Xiaomi.

The first ES6 is expected to roll off the assembly line next June, Li said at the event in Shanghai on Dec. 15, with each one tailor-made to order.

The car comes in two versions: a no-frills edition for CNY358,000 (USD51,850) and a high-performance version for CNY398,000, before any subsidy is applied. If a buyer opts for Nio's battery rental scheme, the price drops by CNY100,000. After applying this year's new energy vehicle subsidy standards, the price will fall further to CNY190,000.

The ES6 high-end version has a range of 510 kilometers per charge and a braking distance of 34 meters.

The Shanghai-based carmaker had delivered 9,727 of its first SUV, the ES8, as of Dec. 15. The last one delivered on that evening was to Xiaomi's Lei, who is one of Nio's investors.

"I thought car-making by those with an internet background a fraud," Lei said, recalling how five years ago he was, however, moved by Li, who invested USD150 million of his own funds.

The e-carmaker has opened 26 Nio Houses and experience stores in China this year and is expected to aim for 70 next year.

Editor: Ben Armour