Nio just took a shot across the bow at Tesla.

Chinese electric vehicle (EV) maker Nio ( NIO 16.34% ) is boldly taking on the competition, and investors are buying in. Nio stock is building on gains Friday morning as shares have shot higher by over 20% this week, according to data provided by S&P Global Market Intelligence .

The jump came as Nio unveiled its latest ES8 SUV, the EV maker's flagship premium SUV. It wasn't the vehicle itself that spurred investor interest, but rather its aggressively low price point.

Nio has an advantage over Tesla

Nio priced the ES8 EV at about $43,000, with a battery subscription. Nio's unique battery swap technology allows customers to quickly replace depleted batteries with fully charged ones at one of its many swap stations. That subscript

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