Leading Premium Electric Vehicle Manufacturer Benefiting From Drivers Looking to Upgrade

Nio is a leading electric vehicle, or EV, manufacturer in China, targeting the premium segment. Its current model portfolio’s retail prices range from CNY 328,000 to CNY 656,000, with a 450-700 km driving range. For new models, Nio started delivery of its midsize ET5 sedan in third-quarter 2022, priced at CNY 328,000-CNY 386,000, as well as the mid-to-large five-seater SUV ES7. The company also upgraded its first-generation SUV models ES8, ES6, and EC6 in the second quarter of 2023. It also plans to launch a new mass-market brand in 2024 to seize robust demand while retaining Nio’s premium image.