tech
Nio surges 9% after releasing first flagship EV in more than two years
Chinese electric car company Nio has launched two lower-priced brands in the last two years to broaden its customer base in a sluggish Chinese consumer market.
TL;DR
- Nio launched its ES9 SUV, the company's first flagship EV in over two years, with prices starting at 390,000 yuan (excluding battery cost).
- The ES9 boasts advanced features like smart safety systems, an in-car water boiler, and airplane-like unfolding tables.
- Nio's stock surged 9% following the ES9 launch, contributing to its positive performance in 2026.
- The company has previously launched lower-priced brands, Onvo and Firefly, to compete in China's sluggish consumer market.
- Nio delivered 83,465 cars in Q1, nearly double last year's figure but down 33% from Q4.
- Tesla's Model Y is the top-selling SUV in China, and Audi is launching a new China-focused electric SUV, the E7X, starting at 289,800 yuan.