Written by Cláudio Afonso | LinkedIn | X
Chinese electric vehicle maker Nio unveiled the ET9, a luxury sedan priced at 788,000 yuan ($107,900), during its annual event in Guangzhou on Saturday. The company also introduced a limited “First Edition” of 999 units, priced at 818,000 yuan ($112,100), with deliveries in China scheduled to begin in March 2025.
Nio’s founder and CEO, William Li, stated on Sunday that the First Edition sold out in a media session attended by EV and held about 12 hours after the event. Li added that orders for the ET9 and the forthcoming Firefly model align with company expectations. However, Nio will continue its policy of not disclosing order numbers for its vehicles.
With deliveries in China starting in the first half of next year, Li said “selling 1,000 units of the ET9 per month would make us very happy.”
Prices for the four-seater sedan in China start at 660,000 yuan ($90,570) under Nio’s Battery-as-a-Service (BaaS) program, which allows customers to rent the battery for a monthly fee instead of purchasing it.
“The ET9’s performance has exceeded our expectations. The Firefly may face production pressure upon release, and we ask for everyone’s understanding,” Li said.
The model is in its initial production phase with mass production set to begin in February, according to Yi Yang, the plant’s communication manager. The timeline was communicated during a factory visit on Friday attended by EV.
Nio‘s chief executive said in November that the brand defined a new solution to create an interior space with “four independent yet highly interactive zones.”
Li defended that design should follow the latest technologies making sure it serves the needs while staying luxurious.
As the company celebrates its 10th anniversary, the company’s CEO sees the upcoming two years as crucial for its success. After launching its first sub-brand Onvo in May, Nio will unveil the second one, Firefly, at its annual event on December 21 with deliveries of the debut model starting in the first half of 2025.
Nio shares closed 3.2% higher on Friday at $4.54. Year to date, the stock has lost about 50% of its value.
Written by Cláudio Afonso | LinkedIn | X
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