Nio launches first electric sedan model as Tesla delivers China-built SUV

- Nio ET7's target rivals were BMW's 5-series, Audi's A6 and Mercedes-Benz E-class sedans, chief executive of the company said
- Nio, which delivered 43,728 vehicles last year, has a market capitalisation of over $92 billion, surpassing conventional automakers Daimler AG and General Motors Co