According to Bloomberg on December 24, Beijing time, NIO launched a flagship sedan at its annual event on December 23, which challenged the Porsche Paramela series and Mercedes-Benz S series.
Deliveries of the four-seater executive sedan, called ET9, will begin in the first quarter of 2025, with a starting price of around 800,000 yuan. It is more expensive than Tesla's Model S, which starts at $69 in China890,000 yuan.
Li Bin, founder of NIO, said that the car will be equipped with a 5-nanometer automotive-grade chip and a large cylindrical battery independently developed by NIO. It will also be equipped with a 900V fast charging platform, which can travel 255 kilometers in 5 minutes.
Li Bin said at this year's event in Xi'an, "NIO ET9 integrates more than 100 NIO full-stack technologies, reaching new heights of innovation and technological development. ”
As part of the company's strategy to build brand loyalty, NIO unveils its main products at the annual "NIO Day" and gathers with corporate partners, customers and **.
NIO showcased the latest generation of NIO battery swap stations, a platform that can quickly replace batteries in three minutes.
NIO says the latest generation of battery swap stations will be compatible with multiple brands and can reduce overall swap time by 22%.
The company has completed its goal of building 1,000 battery swap stations in 2023 and has pledged to build another 1,000 battery swap stations and 20,000 charging piles next year, and will continue to invest in infrastructure to alleviate range anxiety for customers.
Nio was once considered one of the brightest rising stars in China's electric vehicle market, but its sales fell sharply short of target and continued to lose money. In November, Mr. Li said in an internal letter that he would optimize 10 percent of his workforce. While laying off employees, NIO also plans to cut expenses by about 2 billion yuan in 2024.
Earlier this week, it signed a $2.2 billion investment agreement with CYVN, based in Abu Dhabi, United Arab Emirates. After the transaction is completed, CYVN will hold 201% of the shares, becoming NIO's largest single shareholder and having the right to nominate two board members, but Li Bin still has control over the company.
NIO expects to deliver about 1590,000 vehicles, less than two-thirds of the initial target of 250,000.