Written by Cláudio Afonso and Matilde Alves
The Shanghai-based EV maker Nio is planning to unveil its largest SUV yet — to be named ES9 — at its annual event in the final quarter of this year, according to information posted by several automotive bloggers on Chinese social media this Monday and confirmed by EV.
Aiming at the domestic market, where sales of bigger SUVs have been climbing, Nio’s brand-new model is expected to be over 5.2 meters in length becoming the most spacious model it has ever created. Until today, the ES8 is the largest SUV of the lineup with 5,099mm of length, 1,989mm of width, and a wheelbase of 3,070mm.
The ES9 will feature a single charging port paired with a dedicated adapter, while upcoming third-generation models will return to a dual-port design, the information shared on Monday showed.
Refreshed/New Models
Nio is updating its portfolio in the following months. The refreshed versions of the ES6 SUV (which will have over 5 meters of length) and EC6 Coupe SUV will be released in May, while the revamped ET5 sedan and ET5 Touring shooting brake will follow in June. Both models will be based on an intermediate platform, internally named 2.5.
The refreshed versions will feature a horizontal center screen and will be equipped with Nio’s in-house Shenji autonomous driving chip, unveiled last year.
Rumors suggest that the refreshed ES8 launching in August is actually the next-generation ES7, rebranded as the new ES8. The model will offer three different configurations covering 5-seat, 6 and 7-seat combinations.
The updated SUV will be built on Nio’s latest third-generation NT 3.0 platform. As of today, Nio sells two models under the platform with the first one being the Onvo L60 and the second one, the executive sedan Nio ET9.
The company started deliveries of its flagship model in late March after having unveiled it in December 2023 to rival models like the Mercedes-Benz Maybach.
The ET9 starts at 660,000 yuan ($90,500) with Nio’s Battery-as-a-Service, which lets buyers lease the battery separately. A limited ‘First Edition’, priced at 818,000 yuan ($112,200), sold out in 12 hours in December.
Nio currently has nine models in the Chinese market. Regarding SUVs, the company offers from the ES6 to the ES8 and the EC6 and EC7. Its ET line includes the ET5 (and its Touring version), ET7, ET9 sedans.
Nio Q1 Results
Over the weekend, Nio delivered its 100,000th vehicle in Shanghai, becoming the first local brand to surpass 100,000 users and an average vehicle price of 300,000 yuan ($41,100).
The company aims to double its annual sales this year, driven by driven by refreshed key models and the launch of its most affordable EV under the new Firefly sub-brand.
“Our target is still the same, just to double the sales volume from last year,” founder and CEO William Li stated on the last earnings call in March.
To hit that goal, Nio needs to deliver around 400,000 vehicles in the next nine months—about 44,400 per month. Its current monthly record stands at just over 31,000 units, set in December 2024.
The Group delivered 42,094 units in the first three months of the year, up 40.1% year over year and in line with the guidance provided earlier this month by Li of “around 40% year-over-year growth for the deliveries”.
Nio shares dropped to $3.14 last week, marking their lowest point in nearly five years. It follows a recent decline driven by global trade tensions, a stock offering and mounting pressure on new sub-brands and new model rollouts.
As of the time of writing, Nio shares are trading 2.5% higher in the pre-market session, at $3.61. Year to date, the stock fell nearly 20%.
Nio + CATL Partnership
Reuters reported last week that CATL, the world’s largest battery maker, was in talks to acquire a controlling stake in Nio Power, the division behind the company’s battery swapping and charging network.
Last month, Nio and CATL extended their partnership aiming to “advance the high-quality development of the new energy vehicle industry by building a battery swapping network for passenger vehicles.”
Amid speculation, a screenshot from a Nio owners’ group chat surfaced online, showing a user asking William Li if the battery swap stations had been sold. Li responded, “Don’t believe or spread rumors,” dismissing the claims.
As of Monday, Nio operates 3,260 battery swap stations with more than 26,000 chargers across China, as the company aims to reach between 4,800 and 5,000 swap stations by the year end.