"Deliveries of the model will begin on August 28. This could be Nio's fastest delivery ever.'' Nio's founder William Li said.
China's EV pioneer Nio (NIO:NYSE; 9866:HKSE) published its fourth model, a large SUV with selling price ranging from CNY 420,000 (USD 62,686) to CNY 548,000 (USD 81,791).
The vehicle is designed on Nio's NT 2.0 platform, an architecture adopted by ET5 and ET7 as well. It is equipped with many of the latest technologies and products in the field, such as four Nvidia Orin chips, one Qualcomm 8155 processor. Apart from this, ES7's Aquila perception system consists of 33 sensors.
Nio exhibited the SUV hooked trailer at the launch event, and consumers can buy hooks on demand.
The company's president Qin Lihong expressed ES7 would aim to compete with China-made BMW X5L, ''ES7 and BWM X5L will be the two most exciting large five-seats produts, which target EV and ICE markets respectively. We wish to go forward with BWM to meet consumers' various demands.''
Nio's sales have slowed down since 2022 with delivery figures shy of Xpeng, Li Auto, NETA and Leapmotor's in several months.
Nio stock went up 5.6% while Li Auto declined by 1.16% as of the press time.