Thomson ReutersElectric car startup Nio is planning to battle Tesla in the most lucrative market for battery-powered vehicles: China. Nio will sell its electric SUV, the ES8, in China in early 2018. The move puts the startup in direct competition with Tesla as it looks to gain traction in the country. China had more electric car sales than Europe and the US in both 2015 and 2016 and has also exhibited faster sales growth. Tesla has tripled its revenue in China to $1 billion in 2016, though it still makes more money in the US.