Author: Phate Zhang/CnEVPost

China may introduce NEV support measures soon

Post author By Phate Zhang/CnEVPost
Post date June 19, 2023

China's State Council Information Office will hold a briefing at 10 am Beijing time on June 21 on promoting the development of the NEV industry.

China may introduce NEV support measures soon-CnEVPost

(Image credit: CnEVPost)

China is expected to introduce policy initiatives to promote the "high-quality development" of the new energy vehicle (NEV) industry in recent days, local media China Securities Journal said in a report today.

The report did not mention details about the possible policies.

A notice posted on the website of China's State Council Information Office today shows it will hold a regular briefing at 10 am Beijing time on Wednesday, June 21, to introduce the promotion of "high-quality development" of the NEV industry and answer reporters' questions.

China's current policy to support the NEV industry is mainly the exemption of purchase tax.

In order to support the development of energy-efficient vehicles, China first started to exempt NEVs from purchase tax in 2014.

The policy originally expired at the end of 2017, but was renewed before its expiration until the end of 2020. In March 2020, China renewed the policy again until the end of 2022.

On September 26, 2022, several Chinese government departments announced in an official announcement that the purchase tax exemption for NEVs would continue until the end of 2023.

On June 2, a Bloomberg report said that China was considering extending the tax exemption for cheaper NEVs for another four years.

One of those measures could be extending the purchase tax exemption for electric and plug-in hybrid vehicles that cost less than 300,000 yuan ($42,910), according to the Bloomberg report.

Hours after that Bloomberg report was published, state broadcaster CCTV reported that a State Council meeting mentioned that China would extend and optimize the vehicle purchase tax exemption for NEVs.

The upcoming press conference on June 21 may be related to the extension of the NEV purchase tax exemption policy.

Before this year, China also offered state subsidies for NEV purchases, and they were not renewed when they expired at the end of last year, although some local governments have offered subsidies to local residents for their purchases from time to time.

Following the withdrawal of state subsidies, growth in China's NEV industry has slowed significantly so far this year.

From January to May, retail sales of NEVs in China were 2.42 million units, up 41.45 percent year-on-year, according to the China Passenger Car Association (CPCA). For comparison, the growth rate for the same period last year was 117.21 percent.

($1 = RMB 7.1580)

China to extend and optimize NEV purchase tax exemption policy, says State Council meeting

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BYD China Electric eMobility eV Yangwang Yangwang U8

BYD Yangwang U8 expected to be officially launched in Aug

Post author By Phate Zhang/CnEVPost
Post date June 19, 2023

Yangwang will have separate sales channels from BYD and is in the process of building its first stores in 16 cities, and they are expected to start trial operations gradually in August.

(Image credit: CnEVPost)

The Premium Edition of Yangwang's first model, the U8, is expected to be officially launched in August, and the final price will be announced at that time, the BYD-owned premium brand said today.

Deliveries of the Yangwang U8 Premium Edition are expected to begin in September, it said.

Yangwang began pre-sales of the U8 on the first day of the Shanghai auto show on April 18, saying at the time that the model would be offered in two versions -- a Premium Edition and an Off-road Master Edition.

Both versions of the Yangwang U8 have the same pre-sale price of 1,098,000 yuan ($153,400), with the difference being that the former has more features and the latter has more room for modifications.

For BYD, its pattern for launching a new model is to start pre-sales first and offer a lower price when it finally goes on sale.

Yangwang will not use BYD's sales channels and will build its own showrooms, it said in a post posted today on its social media platforms.

Yangwang is currently building its first stores in 16 cities, including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou and Chengdu, and they are expected to start trial operations gradually in August.

Yangwang uses an online booking model, where consumers can book through channels including the brand's mobile app and get delivery at offline stores.

Buyers of the Yangwang U8 Premium Edition will not have to pay a luxury car tax, as the tax is only available in China for models with a retail price of RMB 1.3 million or more, Yangwang said.

For the Yangwang U8 Off-road Master Edition, whether consumers will have to pay the luxury tax will be subject to their additional options.

The Yangwang U8 is currently only available in a five-seat version, and its interior is expected to be officially revealed in July.

On January 5, BYD officially launched the Yangwang brand and unveiled the Yangwang U8 and Yangwang U9, both of which will be equipped with BYD's e⁴ technology.

e⁴ is China's first mass-produced quad-motor independent drive technology platform, able to achieve precise control of vehicle four-wheel dynamics by virtue of quad-motor independent vector control technology, BYD said at the time.

The Yangwang U8 has a maximum output of over 1,100 horsepower, takes 3.6 seconds to accelerate from 0 to 100 kilometers per hour and has a CLTC pure electric range of 180 kilometers, the brand previously said.

The Yangwang U9 is not yet available for pre-order, and its official launch date is unknown.

($1 = RMB 7.1577)

BYD Yangwang begins pre-sale of U8 off-road SUV at $160,000

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Tags BYD

China Electric eMobility eV Li Auto Li L7 Li Xiang

Li L7 sees single-day sales of over 1,000 units, says Li Auto CEO

Post author By Phate Zhang/CnEVPost
Post date June 19, 2023

The Li L7 is a model that was nearly canceled during development, according to Li Auto CEO Li Xiang.

(Image credit: CnEVPost)

The Li L7 -- a new model that almost got canceled -- saw its highest single-day sales ever on Saturday, according to Li Xiang, founder, chairman and CEO of Li Auto (NASDAQ: LI).

"Yesterday was our first tech day, and today is also a historic moment -- the first time that the Li L7 has sold more than 1,000 units on a single day with no new model launch," Li wrote on Weibo late at night on June 18.

Li Auto held its first Family Tech Day event on June 17, announcing the official name of its first BEV, Li MEGA, and the company's progress in developing assisted driving and supercharging capabilities.

"For a model with a starting price of RMB 300,000 ($42,100) or more and in a steady state of sales, selling more than 1,000 in a single day should be a moment to remember," Li said.

Li Auto launched the Li L7, its first five-seat SUV, on February 8 and currently offers three versions with starting prices of RMB 319,800, RMB 339,800 and RMB 379,800, respectively.

All of the company's current models are extended-range electric vehicles (EREVs), with the other two being the higher-priced, six-seat Li L8 and Li L9.

The Li L7 was almost canceled during development, according to Li, who said he was quite determined to axe the model last September, but several other executives stopped him.

Li mentioned in another Weibo yesterday that most members of Li Auto's management team thought the company should set an annual sales target of 360,000 units at the beginning of the year, but he ultimately decided to set a budget target based on annual sales of 306,000 units.

"This was partly because I didn't think we could be too optimistic about the economic environment this year, and partly because we didn't meet our budget targets for all three years from 2020-2022," he said.

Li said the too-low targets he set caused the company to place orders at suppliers at the beginning of the year that were clearly not keeping up with current sales, so several key components would take more than a quarter to reach the right capacity if production ramp-up began now.

Currently, Li Auto's plant in Changzhou, Jiangsu province has two production lines, one for double-shift production and one for single-shift production, according to Li.

The current peak capacity of the plant is 7,500 units/week, of which six days are production time and one day is used for maintenance, Li said.

Li Auto's goals set at the beginning of the year were too conservative, and suppliers of key components are currently adding equipment in line with the company's demand of more than 10,000 units/week, according to Li.

Li said Li Auto won't be able to achieve 10,000 units/week capacity until the fourth quarter when both of its lines will be based on double-shift production.

Li Auto delivered a record 28,277 vehicles in May, up 145.97 percent year-on-year and 10.11 percent from April, the third consecutive month to exceed the 20,000-unit mark, according to data released June 1.

The Li L7 achieved its second consecutive month of over 10,000 deliveries in May, Li Auto said at the time, without disclosing specific figures.

Li Auto aims for the Li L7, Li L8 and Li L9 models to see combined monthly sales of more than 40,000 units this year, Li said on June 1.

($1 = RMB 7.1266)

Li Auto Family Tech Day: 1st BEV named Li MEGA, aims to be top seller above $70,000 in China

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China Electric eMobility eV Li Auto Li Auto Family Tech Day Li MEGA Tesla

Li Auto Family Tech Day: 1st BEV named Li MEGA, aims to be top seller above $70,000 in China

Post author By Phate Zhang/CnEVPost
Post date June 17, 2023

"We are confident that it will be the No. 1 seller of all passenger cars priced at RMB 500,000 ($70,160) or more, regardless of energy form and regardless of body form," Li Auto said.

Li Auto (NASDAQ: LI) announced the naming of its first battery electric vehicle (BEV) model and set an ambitious goal for its sales.

Li Auto's first BEV, its super flagship model, has been officially named Li MEGA and is expected to be released by the end of 2023, the company announced today at its first Family Tech Day event held at its facility in Changzhou, Jiangsu province.

"We are confident that it will be the No. 1 seller of all passenger cars priced at RMB 500,000 ($70,160) or more, regardless of energy form and regardless of body form," the company said.

Li MEGA will break the traditional perception that high-end pure electric vehicles cannot be hot sellers, Li Auto said.

Li Auto currently has three models on sale, the five-seat Li L7, and the six-seat Li L8 and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.

The Li MEGA will be Li Auto's first foray into the BEV market, and it will be an MPV (multi-purpose vehicle, or van) model, according to information it previously shared.

By 2025, Li Auto's product array will include one super flagship model, five EREVs, and five BEVs, it said on the first day of the Shanghai auto show on April 18.

By then, Li Auto's models for the market priced above RMB 200,000 will fully meet the needs of family users, the company previously said.

Li Auto models currently on sale have a starting price range of RMB 319,800 to RMB 459,800.

Li Auto's first all-electric model will be the world's first to feature CATL's 4C Qilin Battery, it said on April 18.

C refers to the battery's charge multiplier, and 4C means that the pack can theoretically be fully charged in a quarter of an hour.

Notably, Li Auto began today's Family Tech Day event by introducing its 5C charging solution, which it said allows for charging power of more than 500 kW.

Li Auto has developed its own 800 V high-voltage all-electric platform and will mass-produce 5C all-electric vehicles, it said.

The company has optimized the battery at the system level to take fuller advantage of the battery's 5C charging multiplier, giving vehicles a range of 400 kilometers in 9 minutes and 30 seconds and 600 kilometers in 22 minutes of charging.

As a comparison, Tesla's latest V3 Supercharger has a peak charging power of 250 kW and can charge the vehicle with up to about 250 km of range in 15 minutes at peak power.

Li Auto will fast-track the deployment of the 5C supercharging network, completing more than 300 supercharging stations by the end of this year and more than 3,000 by 2025, it said.

Li Auto did not say whether Li MEGA will use that 5C solution, but said that with mass deliveries of its 5C BEV models, more Chinese households will enjoy the high-voltage, pure-electric technology that will replace fuel-powered vehicles on a large scale.

The company unveiled its auto-charging robot at today's event, saying it will provide an energy replenishment experience that goes far beyond refueling.

Li Auto's vehicles will automatically drive to charging spaces and park themselves, and the charging robot can automatically connect, charge and settle with the vehicle through visual recognition.

Li Auto also announced its progress on advanced driver assistance systems, saying it will open internal testing of City NOA (Navigation on ADAS) in Beijing and Shanghai this month.

In the second half of the year, Li Auto will open up the commute NOA feature and make City NOA available in more cities, it said.

For the commute NOA feature, vehicles can be activated for simple routes in less than 1 week and trained for more complex routes in 2-3 weeks.

Li Auto estimates that commute NOA can cover more than 95 percent of commuting scenarios, making the vehicle a "dedicated elevator" for owners.

The company said its City NOA is the first in China that doesn't rely on high-precision maps, and with the help of AI big models, will achieve driving performance close to that of a human driver.

Li Auto also unveiled the progress of its in-car voice assistant, Lixiang Tongxue, at today's event, saying it built Mind GPT, a cognitive big model, to make the feature even smarter.

With the help of Mind GPT, Lixiang Tongxue can turn into a teacher for users, a professional car butler, an expert in teaching drawing and programming, Li Auto said.

In addition to its technological advances, Li Auto announced that its 400,000th vehicle rolled off the assembly line today.

Li Auto delivered a record 28,277 vehicles in May, bringing cumulative deliveries to 363,876.

($1 = RMB 7.1266)

Li Auto says confident it will outsell German luxury brands in China in 2024

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Tags CATL, Li Auto, Tesla

China Deliveries Electric eMobility eV Nio Nio ET5 Touring

NIO starts delivery of ET5 Touring in China

Post author By Phate Zhang/CnEVPost
Post date June 16, 2023

The ET5 Touring vehicles currently being delivered by NIO are produced in advance, and consumers who customize the model will have to wait about 3-4 weeks.

(Image credit: NIO)

NIO (NYSE: NIO) today began delivery of the ET5 Touring, which was officially launched in China and Europe yesterday.

The first owners from several cities across China took delivery of the ET5 Touring on June 16, NIO said in an article posted on its mobile app.

NIO did not announce the number of ET5 Touring deliveries today, though it shared images showing deliveries in cities including Xiamen, Suzhou, Chengdu and Guangzhou.

NIO officially launched the ET5 Touring yesterday, and its pricing is identical to that of the regular ET5.

Including the battery, the version with the 75-kWh battery pack starts at RMB 298,000 ($41,860) and the 100-kWh version at RMB 356,000.

Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.

It is worth noting that the ET5 Touring vehicles delivered today are not customized, but were produced by NIO in advance based on designer-recommended configurations to enable quick first delivery.

Consumers who currently customize the ET5 Touring are expected to receive delivery in about 3-4 weeks after locking in their orders, as shown by the information on the configurator for the model in the NIO App.

This is the same approach NIO took when it launched the new ES6 on May 24, when it began deliveries of the SUV the night of the launch.

The pricing of the ET5 Touring was a surprise, as it was previously widely seen to be priced RMB 10,000 to 20,000 higher than the regular ET5.

"Pricing of ET5 Touring is more competitive than we thought -- on par with the incumbent ET5 sedan at Rmb 298k+," Morgan Stanley analyst Tim Hsiao's team said in a research note sent to investors yesterday.

With NIO's broad price cut and the rapid rollout of the new NT 2.0 model, its sales can rebound considerably in the second half of the year, paving the way for 20,000 units per month, Deutsche Bank's Edison Yu's team said in a research note sent to investors today.

Here are more images of the first ET5 Touring deliveries shared by NIO on its mobile app.

(1 $= RMB 7.1193)

NIO ET5 Touring pricing 'a pleasant surprise,' says Morgan Stanley

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China Electric eMobility eV Nio Nio ET5 Touring Research Note

NIO ET5 Touring pricing ‘a pleasant surprise,’ says Morgan Stanley

Post author By Phate Zhang/CnEVPost
Post date June 16, 2023

While touring cars might be relatively niche compared to sedans, some comparable offerings in the market can still deliver monthly sales of about 10,000 units on a consistent basis, Tim Hsiao's team said.

(Image credit: CnEVPost)

NIO (NYSE: NIO) officially launched the ET5 Touring yesterday, and its pricing looks competitive to analysts.

While the segment could be relatively niche, NIO management believes the ET5 Touring is likely to outsell its sedan version, the team noted.

In China, the available versions and pricing of the ET5 Touring are identical to those of the regular ET5 sedan.

Including the battery, the 75-kWh version starts at RMB 298,000 ($41,890) and the 100-kWh version at RMB 356,000.

Compared to the regular ET5, the ET5 Touring has more rear-seat headroom, and more vertical space in the trunk, while it also has a lower driving position, and the option for electrochromic sunroofs, Hsiao's team noted.

"Such retrofits will help increase the TAM of the ET5 family by attracting users who attach greater value to the in-car space," the team said.

It's worth noting that in China, derivatives of sedans are a niche market.

However, the unexpected success of the Zeekr 001, the first model of Geely's Zeekr brand, has made such models increasingly popular.

For the full year 2022, Zeekr delivered 71,941 Zeekr 001s, reaching its goal of delivering 70,000 vehicles for the year.

While touring cars might be relatively niche compared to sedans, some comparable products in the market still manage to deliver monthly sales of about 10,000 units on a consistent basis, according to Hsiao's team.

In China, the competitive landscape in the touring market is relatively benign, with the main comparables coming mainly from foreign brands such as the Audi S4, Mercedes-Benz CLA and Volvo V60, according to the team.

Whether NIO can successfully ramp up sales of the ET5 Touring in the coming months to meet its goal of reaching 20,000 units per month in the second half of the year remains to be seen, the team said, adding that the company's management expects the ET5 family to contribute about 30 percent of sales.

The ET5 sedan, ET5 Touring and the new ES6 will dominate NIO's sales, Hsiao's team said.

NIO launched the new ES6, the most important model in its history, in China on May 24, with deliveries starting on launch night.

As with the new ES6, NIO produced some ET5 Touring vehicles in advance based on a combination of designer-recommended configurations, and its deliveries officially began today.

($1 = RMB 7.1136)

NIO launches ET5 Touring in China with same pricing as regular ET5

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Tags Geely, NIO, Zeekr

China Electric eMobility eV Nio Research Note

NIO’s urgency to capture volume and cut expenses finally here, says Deutsche Bank

Post author By Phate Zhang/CnEVPost
Post date June 16, 2023

With NIO's broad price cuts and the rapid rollout of new NT 2.0 models, it could see a considerabe sales rebound in the second half of the year, according to Edison Yu's team.

NIO (NYSE: NIO) management expressed a rare cautious approach to future spending during last week's earnings call, and this week let the purchase threshold for the entire lineup drop. To Deutsche Bank, this series of moves suggests that NIO is finally starting to show real urgency.

"Our main takeaway following 1Q earnings and hosting NIO management (CFO in person in NYC this week) is that the urgency to capture volume and cut back spending is finally here," analyst Edison Yu's team said in a research note sent to investors today.

With NIO's broad price cut and the rapid rollout of the new NT 2.0 model, its sales can rebound considerably in the second half of the year, paving the way for 20,000 units per month, the team said.

In addition, as NIO reduces spending on non-core initiatives, its operating expenses and capital expenditures should be much more controlled, the team added.

NIO reported weaker-than-expected first-quarter results on June 9, with gross margins falling to just 1.5 percent due to promotional activities.

The company's management said during the earnings call that NIO will manage its cash flow carefully, postpone some of its fixed asset investments and focus on the countries it has already entered in Europe.

NIO is confident that it will see sales of more than 20,000 units per month in the second half of the year, William Li, the company's founder, chairman and CEO, said at the time.

On June 12, NIO lowered the starting prices of its entire new model lineup by RMB 30,000 yuan ($4,200), but the previously free battery swap service several times a month became a paid option.

Yu's team said in the research note today that they applaud the move as demand for NIO's existing models, particularly sedans, has been struggling in recent months.

"In our view, pricing is an issue for getting incremental buyers considering premium BEVs in general have sold poorly this year," the team wrote.

Despite the ongoing platform changeover for NIO's three first-generation SUVs, combined sales of the Avatr 11, IM LS7 and XPeng G9 averaged only about 4,500 units per month this year, about half of what the Audi Q5 sells locally in China, the team noted.

NIO's pricing is the highest among the upstart brands. In addition to price adjustments, the company must effectively compete with internal combustion engine vehicle makers, and extended-range electric vehicle (EREV) makers, and enhance its brand appeal, Yu's team said.

The electrification of China's premium car market appears to be proceeding more slowly, which may be counterintuitive to those outside of China, the team said.

They explained further:

Based on our analysis of the premium SUV market (>300k RMB), the BEV mix is only 12% YTD, compared with PHEV (includes EREV) at 18%, leaving 70% for ICE.

This compares with the overall market that is 21% BEV and 10% PHEV, showing customer preferences are quite different depending on the sub-segment.

The team's interpretation of this is that the EREV value proposition is resonating with a broader audience than expected, and Li Auto has done a very effective job at maximizing.

In addition, Yu's team believes that NIO's brand appeal has hit a wall of sorts as it struggles to gain momentum outside of Shanghai and surrounding provinces and outside of financial and tech social circles.

The performance of NIO's best-selling ET5 is a case in point. Nearly 40 percent of the model's sales come from Shanghai and surrounding provinces, and while the ET5 theoretically has the broadest appeal among NIO's offerings, sales in the south have been quite poor, the team said.

"Moreover, based on our channel checks, affluent older customers simply are not buying into the brand (yet) and still prefer traditional BBA cars (i.e., greater loyalty)," the team said.

For investors, they are shifting to a less negative view as NIO's sales and cash burn trajectory appears to be reversing, the team said.

Depending on how the second half of the year plays out, NIO's stock price could remain volatile until there is a clear upward trajectory in sales, according to the team.

($1 = RMB 7.1236)

BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional

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Tags Li Auto, NIO, XPeng

China Electric eMobility eV Nio Nio ET5 Touring Wait Times

NIO ET5 Touring has 3-4 weeks delivery wait time in China after launch

Post author By Phate Zhang/CnEVPost
Post date June 16, 2023

NIO has produced some ET5 Touring vehicles based on designer-recommended configurations, and deliveries of these non-customized vehicles will officially begin on June 16.

(Image credit: CnEVPost)

NIO (NYSE: NIO) launched the ET5 Touring, a derivative of the ET5 sedan, in China yesterday, and consumers who want to order a customized vehicle will have to wait about a month to get delivery.

Consumers who currently customize the ET5 Touring are expected to get delivery about 3-4 weeks after locking in their orders, information on the configurator for the model in the NIO App shows.

Pricing for the ET5 Touring in China is identical to that of the regular ET5, starting at RMB 298,000 ($41,760) for the version with the 75-kWh battery pack and RMB 356,000 for the 100-kWh version, including the battery.

NIO began allowing consumers to lock in their orders for the ET5 Touring after the model's launch, and the company has already produced some ET5 Touring vehicles based on designer-recommended configuration combinations, with deliveries set to begin on June 16.

The wait information for other NIO models is unchanged today from what was shown previously.

The expected delivery time for the new ES8, which was launched at NIO Day 2022 on December 24 last year, remains June.

The wait time for the ES7 remains about 3 weeks. The model was launched on June 15, 2022, with first delivery on August 28, 2022.

The wait time for the new ES6 is still about 5 weeks, the model was launched on May 24 and deliveries started that night.

The wait time for the EC7 is about 4 weeks, the model was launched on NIO Day 2022 on December 24, 2022, and the first delivery was on April 28 this year.

The wait time for the ET7 is about 3 weeks. NIO launched the 2023 ET7 on the first day of the Shanghai auto show on April 18, with deliveries starting on May 19.

The wait time for the regular ET5 is about 3 weeks. The model was launched on NIO Day 2021 in December 2021, and the first delivery was on September 30, 2022.

($1 = RMB 7.1356)

NIO launches ET5 Touring in China with same pricing as regular ET5

(Screenshots on June 16.)

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Tags NIO

China Electric eMobility eV Nio NIO EL6 NIO ES6 Nio ET5 Touring NIO Europe

NIO launches ET5 Touring and EL6 in Europe, deliveries to start in Q4

Post author By Phate Zhang/CnEVPost
Post date June 16, 2023

The ET5 Touring and EL6 are priced higher in Europe than in China due to factors including transportation costs, local taxes and operating costs.

(Image credit: NIO)

Hours after the ET5 Touring was launched in China, NIO (NYSE: NIO) rolled out the model, as well as the EL6, known in China as the new ES6, in Europe.

Both models will be available in Germany, the Netherlands, Sweden, Denmark and Norway, and deliveries will both begin in the fourth quarter.

Including the battery, the ET5 Touring starts at 59,500 euros ($65,130) in Germany for the 75-kWh standard range version and 68,500 euros for the 100-kWh long-range version.

For reference, both versions of the ET5 Touring start at the same prices in China as the regular ET5, RMB 298,000 ($41,820) and RMB 356,000 respectively.

In the Netherlands, the starting price for the 75-kWh ET5 Touring is €63,900 ($69,930) and the 100-kWh version is €72,900.

They cost 706,000 SEK ($66,560) and 816,000 SEK in Sweden, 517,000 DKK ($75,950) and 637,000 DKK in Denmark, and 532,869 NOK ($50,740) and 620,619 NOK in Norway, respectively.

NIO ET5 Touring Price with Battery in Europe

NIO ET5	Germany	Netherlands	Sweden	Denmark	Norway
75-kWh	59,500 EUR	63,900 EUR	706,000 SEK	517,000 DKK	532,869 NOK
100-kWh	68,500 EUR	72,900 EUR	816,000 SEK	637,000 DKK	620,619 NOK

For the EL6, including the battery, the 75-kWh starts at €65,500 in Germany and €74,500 for the 100-kWh version. Because of the lawsuit with Audi, NIO's ES series models have been rebranded as the EL series in Europe.

The EL6 starts at €67,900 and €76,900 in the Netherlands, SEK 769,900 and SEK 879,000 in Sweden, DKK 547,000 and DKK 667,000 in Denmark, and NOK 595,016 and NOK 682,766 in Norway, respectively.

Including the battery, the starting price of the new 75-kWh ES6 in China is RMB 338,000, and RMB 396,000 for the 100-kWh version.

NIO EL6 Price with Battery in Europe

NlO EL6	Germany	Netherlands	Sweden	Denmark	Norway
75-kWh	65,500 EUR	67,900 EUR	769,000 SEK	547,000 DKK	595,016 NOK
100-kWh	74,500 EUR	76,900 EUR	879,000 SEK	667,000 DKK	682,766 NOK

NIO has previously said that the base prices of its models are essentially the same globally, with the difference being that they take into account factors including transportation costs, local taxes and operating costs in different regions.

If consumers choose to purchase the ET5 Touring or EL6 using the BaaS (battery as a service) model, the starting price in Germany is €12,000 lower for the 75-kWh version and €21,000 lower for the 100-kWh version.

It is worth noting that NIO's battery swap stations in Europe are only available to owners of vehicles purchased using the BaaS model. In China, these stations are available to all NIO consumers whether they purchase a model with batteries included or based on the BaaS model.

In addition to the purchase option, NIO also offers a subscription option in Europe. In Germany, for the EL6, if consumers choose a fixed-term subscription of 36 months, the monthly price is €1,179 for the 75-kWh version and €1,309 for the 100-kWh version.

($1 = RMB 7.1264, $1 = EUR 0.9136)

NIO launches ET5 Touring with same pricing as regular ET5

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Tags NIO

China Electric eMobility eV Nio Nio ET5 Touring Product Launch

NIO launches ET5 Touring with same pricing as regular ET5

Post author By Phate Zhang/CnEVPost
Post date June 15, 2023

Pricing for the ET5 Touring is identical to the regular ET5, with a starting price in China of RMB 298,000 including the battery, and deliveries will begin on June 16.

(Image credit: CnEVPost)

NIO (NYSE: NIO) has officially launched its highly anticipated new model, the ET5 Touring, and its price in China is a surprise.

The company launched the model today in an online launch event for consumers in China, Germany, Denmark, the Netherlands, Norway and Sweden. Deliveries in China will officially begin tomorrow, while delivery dates in Europe have not yet been announced.

The ET5 Touring launch was different from all previous NIO model launches in that it was the first product launch led by the European team and appears to be the shortest new model launch in its history.

NIO gave a brief overview of the ET5 Touring's exterior, interior and driving experience at this roughly 40-minute launch event, but didn't explain much more about its technical specifications.

This is understandable, after all, NIO's models come standard with dual motors and the same smart driving hardware, and it seems redundant to introduce them again.

Pricing for the ET5 Touring is identical to the regular ET5, starting at RMB 298,000 ($41,620) in China, including the battery.

This is surprising, as the model was previously generally seen as being RMB 10,000 to 20,000 more expensive than the regular ET5.

On June 12, NIO lowered the starting prices for all models by RMB 30,000 and made the battery swap service, which was previously free several times a month, a paid option.

The ET5 Touring is the first model released after NIO implemented the new pricing system, and the entry version comes with a 75-kWh battery pack. Its long-range version comes with a 100-kWh battery pack and starts at RMB 356,000 with the battery included.

NIO ET5 Touring prices in China

Version	Starting Price with Battery	Starting Price under BaaS	BaaS Monthly Battery Rental
75-kWh	¥298,000	¥228,000	¥980
100-kWh	¥356,000	¥228,000	¥1,680

NIO's advanced driver assistance systems NOP (Navigate on Pilot) Plus and NAD (NIO Autonomous Driving) are both subscription-based, priced at RMB 380 and RMB 680 per month respectively.

NIO began allowing consumers to lock in their orders for the ET5 Touring after the launch, and show cars and vehicles for test drives are already available at NIO's showrooms in China.

Chinese consumers who order the model now will receive 1 year of free use of NOP+ worth RMB 4,560.

Consumers who order the ET5 Touring on and before July 31 will receive a discount on options worth RMB 5,000.

NIO has started production of the ET5 Touring based on the designer's recommended configuration combinations, and its delivery will officially begin on June 16.

On June 11, CnEVPost experienced the ET5 Touring at a NIO House in Shanghai Pudong New Area, and found that it improved the most criticized areas on the regular ET5, except for the larger trunk space.

For the regular ET5, many owners complained about the high seating position in the driver's seat, which may have been a deterrent for some potential consumers to choose the model.

CnEVPost experienced the ET5 Touring and the regular ET5 at the NIO House and found that the driver's seat of the former can be adjusted significantly lower.

NIO currently offers the following benefits to the first owner of the ET5 Touring:

6-year or 150,000 km vehicle warranty. 10-year unlimited mileage warranty for battery, motor and electric control systems;

6 years free internet connectivity with 8GB of monthly traffic;

Lifetime free roadside assistance.

Consumers who order the model before July 31 can pay RMB 30,000 to receive the upgraded benefits package, which includes:

Free lifetime battery swap service, 4 times per month;

10-year unlimited mileage vehicle warranty

Free lifetime internet connectivity with 8GB of traffic per month;

Lifetime free roadside assistance.

In China, the NIO ET5 Touring's main competitor will be Zeekr's Zeekr 001, which is currently offered in four versions with starting prices of RMB 300,000, RMB 300,000, RMB 349,000 and RMB 386,000 respectively.

Zeekr delivered 8,678 vehicles in May, including the Zeekr 001 and the Zeekr 009 MPV. It did not release a breakdown of deliveries.

On June 12, Zeekr began deliveries of its third model, the Zeekr X, which starts at RMB 189,800.

($1 = RMB 7.1606)

Store visit: First impression of NIO ET5 Touring before official launch

The post NIO launches ET5 Touring with same pricing as regular ET5 appeared first on CnEVPost.

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Tags NIO, Zeekr

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