Chinese electric vehicle (EV) maker Nio Inc. started sales of its most expensive car as it seeks to double deliveries in 2025 and eventually become profitable, and at a price of $108,000 along with an impressive range, it could pip the likes of Porsche and Mercedes-Benz EVs.
Nio’s flagship model: The ET9
Nio recently unveiled its most expensive car yet, the ET9 battery-electric sedan, at a special event in the Guangzhou province of China.
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| The Nio ET9 has a range of 650 km on a single charge -- Photo: Nio. |
This executive four-seater is designed to compete with high-end models such as the Porsche Panamera and the Mercedes-Benz S-Class.
With a starting price of 788,000 yuan ($108,000), the ET9 offers luxury, performance, and cutting-edge technology.
Impressive range and features
The ET9 boasts a 100 kWh battery, enabling a driving range of 650 km (404 miles) on a single charge.
Additionally, its high-voltage charging system can provide up to 225 km (140 miles) of range in just five minutes of charging, offering convenience for long drives.
Inside, the ET9 is packed with advanced features, including Nio’s intelligent driving system powered by in-house developed chips, 35 premium speakers, and plenty of legroom for maximum comfort.
Deliveries for the luxury sedan may begin in March.
Firefly: Nio’s affordable sub-brand
In addition to its flagship ET9, Nio is expanding its product line up with a new sub-brand dubbed Firefly.
Firefly is designed to cater to more budget-conscious customers and will offer models at a lower price point.
The first Firefly model will be priced from 148,800 yuan (over $20,000), but with the option to rent the battery, the cost could drop below 100,000 yuan ($13,700).
The Firefly brand aims to compete with cars like BMW’s Mini and Mercedes’ Smart models.
Firefly’s vehicles come with high safety features such as nine airbags, and the brand is expected to attract a wider audience by offering Nio’s innovative technology at a more affordable price.
Nio’s ambitious sales goals
Nio’s founder and CEO, William Li, has set a goal to double the company’s annual sales by 2025.
The company plans to deliver at least 440,000 vehicles next year, with significant contributions from both the ET9 and Firefly models.
Nio also hopes its new Onvo brand, which competes with Tesla’s Model Y, will help boost sales, aiming for an average of 20,000 units per month.
Despite setbacks in the past, such as missing sales targets and continued financial losses, Nio remains optimistic.
Nio’s challenges in the European market
While Nio’s ambitions are high, the company faces some significant hurdles, especially in Europe.
The European Union (EU) has imposed tariffs of up to 45 per cent on Chinese-made electric vehicles, which could limit Nio’s ability to compete effectively in the region.
These tariffs will remain in place for the next five years unless an alternative agreement is reached.
Nio’s first Firefly model was showcased in Frankfurt earlier this year, and the company plans to enter the European market in 2025.
Overcoming battery supply challenges
In addition to tariff issues, Nio has also faced challenges with its Onvo brand, which has seen slower-than-expected growth.
In its first three months, Onvo delivered only around 10,000 vehicles. However, Li remains confident, stating that the slower pace is necessary to ensure quality.
A recent issue in battery supplies has now been resolved, and Nio is focused on improving production capacity to meet its 2026 profitability target.
Nio eyeing profitability
Nio’s primary goal is to achieve profitability by 2026, a target that Li describes as a “baseline.”
While the company has faced challenges in meeting operational targets in the past, Li is determined to meet the profitability goal to make Nio a big global player.
E-Vroooom’s views
With the launch of the ET9 for $108,000 (and the introduction of the Firefly sub-brand), Nio’s EV is positioning itself to compete with premium car brands like Porsche and Mercedes-Benz and may have an advantage on the pricing and range fronts as well as in features and performance.
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