Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Nio reported its third-quarter financial results on Wednesday, announcing that it achieved positive free cash flow. Both gross margins and vehicle margins improved while losses from operations increased.
In the earnings call, Nio’s founder and chief executive William Li revealed that the company will start deliveries of its upcoming flagship sedan Nio ET9 in March 2025.
“Nio’s executive flagship ET9 is in the final testing preparation before mass production and the delivery is expected to start in March next year,” William Li said before adding that “its delivery will reinforce Nio’s premium brand image with new models to be introduced in the coming year”.
The sedan was unveiled at the latest Nio’s annual event in December 2023. Pre-orders opened immediately after the event with the company saying that deliveries were planned to begin in the first quarter of 2025.
In a note sent last month, Deutsche Bank analyst Wang Bin said the EV maker will launch the ET9 sedan, the third generation of the SUVs ES8 and ES7, and a brand new sedan named ET6 in 2025.
The local media outlet AutoHome reported in October that the model will feature a 120kWh battery, though it did not specify whether, as with other Nio models, the ET9 will offer the option to buy or rent a smaller battery to lower the purchase price.
The 120 kWh battery will be supplied by China’s battery giant CATL.
The model will also have access to the company’s battery swap stations where customers can swap the car’s battery for a (nearly) fully charged one in a few minutes.
The first model under Nio’s sub-brand Onvo started customer deliveries in late September and is available with a 60.6kWh battery which provides a CLTC range between 501 and 555 kilometers or with a larger one with 85 kWh.
As of the time of writing, Nio shares are trading 2.4% lower at $4.52.
When unveiling it, the company said the ET9 is designed “specifically for the new generation of high-end business users”.
Written by Cláudio Afonso | LinkedIn | X
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