Nio’s first volume-production model will be an electric SUV, and NextEV co-founder Jack Cheng already has the makings of a catchy marketing slogan for it.

The Nio electric SUV will have range and performance comparable to the Tesla Model X, but at “a Toyota price,” Cheng said in a recent interview with Automotive News (subscription required).Nio EP9The SUV will have a 70-kilowatt-hour lithium-ion battery pack, offering a range of 330 miles on the European testing cycle, Cheng said.

The European testing cycle is known to be more optimistic than the U.S. EPA cycle, so a comparable U.S. figure would likely be up to 30 percent lower.Sales will start in China first, but Cheng said U.S. sales would begin in 2018 or the beginning of 2019.

Source: Nio electric SUV, from Chinese NextEV, to have ‘Toyota cost’ and ‘Tesla range’