A startup trying to take on Tesla just gave a glimpse of the electric car it will release in 2020


nio electric car


Another startup is looking to compete with Tesla in the electric car market.

Nio, formerly known as NextEV, announced Friday it was officially entering the US market at SXSW in Austin, Texas. The startup said it will release a self-driving, electric vehicle in the US in 2020.

At SXSW, Nio unveiled an electric concept to show off its vision for its future cars - scroll down for a closer look: