NIO inventory rises after unveiling $112K flagship ET9 EV to rival Porsche, Mercedes

NIO (NIO) launched its new flagship ET9 EV over the weekend, a premium govt automotive geared toward “the brand new era of high-end enterprise customers.” The brand new flagship EV will tackle Porsche and Mercedes with beginning costs round 800,000 yuan ($112,000).

NIO Day 2023 brings new EVs and tech

The ET9 made its debut over the weekend throughout NIO Day 2023. NIO’s new flagship EV options its newest tech to showcase “an ideal package deal of flagship-style exterior, spacious inside, immersive expertise, environment friendly recharging,” and extra.

At 5,325 mm (210″) lengthy, 2,016 mm (79″) vast, and 1,620 mm (64″) tall, the ET9 will rival the Porsche Panamera (205″ X 78″ X 56″) and different premium automobiles from Mercedes, BMW, and others as NIO appears to develop its market.

The electrical automotive adopts a “Landjet” design with ample cabin house, consolation, security, and steering.

With a four-seat format, the “Govt Bridge” inside features a 360-degree tray desk for rear passengers.

NIO filed 24 self-developed patents for the first-class rear seats. They embody a backrest that may regulate 45 levels, a large (582 mm) seat cushion, and 11 one-push changes. You can too swap between seven completely different electrical sunshades for max consolation.

NIO unveils flagship ET9 EV for $112,000

The ET9 options China’s first full-domain 900V structure, with as much as 925V, 600 kW peak energy, and 765A peak charging present.

With NIO’s battery swap, the ET9 may be recharged in three minutes. Or, quick charging can add 255km (158 mi) in 5 minutes.

Built-in with over 100 NIO full-stack applied sciences, the ET9 options its first five-nanometer auto-grade chip (NX9031) and huge cylindrical battery cells.

NIO’s new flagship ET9 is offered for pre-order in China, however deliveries are usually not anticipated till early 2025.

The EV maker additionally launched its fourth-gen energy swap stations and 640 kW liquid-cooled energy chargers. NIO says the brand new swap stations are appropriate with a number of manufacturers and reduces swap time by 22%.

NIO plans to construct 1,000 energy swap stations and 20,000 chargers to develop its community. The corporate not too long ago partnered with Volvo and Polestar proprietor Geely to develop battery swap tech.

NIO inventory is up almost 9% on Tuesday following the discharge of its new flagship ET9 EV and know-how. Shares are nonetheless down 43% from their 52-week excessive of $16.18 per share.

Electrek’s Take

NIO wanted a jumpstart, and its new ET9 may very well be it. Though costly at $112,000 (800,000 yuan), the ET9 may assist NIO set up itself among the many premium automakers. Nevertheless, that gained’t be till 2025.

The EV maker continues to be shedding cash. NIO posted a internet lack of $624 million (RMB 4.6 billion) in Q3. Final month, NIO introduced it was trimming round 10% of its employees final month amid the intensifying competitors in its house market.

NIO acquired a $2.2 billion funding from Abu-Dhabi’s CYVN Holdings two weeks in the past. With the brand new funds, CYVN will develop into a serious shareholder. The corporate stated it is going to search for strategic companions to develop its tech.

“With the improved steadiness sheet, NIO is nicely ready to sharpen model positioning, bolster gross sales and repair capabilities,” NIO’s CEO William Li defined.

With a brand new flagship mannequin and thrilling tech on the way in which, NIO goals to proceed increasing the model. The EV maker expects to ship between 47,000 and 49,000 EVs in This autumn, up 17% to 22% from final 12 months. Income is predicted between $2.2 billion and $2.3 billion.