Meet the new ET5 from Nio, the Chinese electric vehicle brand's smallest model to date.

It's a small hatchback measuring 185 inches in length, or about the same as the Tesla Model 3, and it starts deliveries in China in the fall of 2022. Pricing starts at 328,000 yuan (approximately $51,540), but buyers can get a 70,000 yuan discount if they choose a subscription plan for the battery.

Buyers will have three battery options to choose from but just one powertrain setup. The ET5 will come standard with a dual-motor powertrain generating a peak 482 hp, or enough for 0-60 mph acceleration in about 4.3 seconds.

Available battery sizes measure 75, 100 and 150 kilowatt-hours in capacity, with the biggest battery, known as the Ultralong, claimed to deliver more than 600 miles on the Chinese test cycle. This should still register at 500 miles or more on the tougher EPA test cycle. Helping with the range is a low coefficient of drag of 0.24 Cd.

2022 Nio ET5

2022 Nio ET5

The interior design of the ET5 is similar to what you find in the Tesla Model 3, with the dash largely devoid of controls as most functions are controlled by a large screen where the traditional center stack is found. A second screen forms a digital instrument cluster.

Nio also plans to make self-driving systems available on the ET5. The company said the car is already fitted with the hardware necessary for self-driving capability, and that features allowing the car to handle itself will be rolled out as updates as the technology is developed and validated. Nio plans to offer the features via a monthly subscription.

Nio products aren't sold in the U.S. but the company started deliveries in Norway in 2021 and in 2022 will add Germany, the Netherlands, and Sweden to its list of export markets. The company expects to be in operation in 25 countries by 2025.

Nio's lineup at present consists of the ET5, the larger ET7 sedan, and ES6, EC6 and ES8 crossovers. The company also briefly sold the track-only EP9 supercar a few years ago.