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This is the first time NIO has mentioned the existence of the new ET7, after rumors began to emerge last month. | NIO US | NIO HK | NIO SG
(A NIO ET7 on display at the 2021 Shanghai auto show. Image credit: CnEVPost)
NIO (NYSE: NIO) will launch the new ET7 at the Shanghai auto show next week, in addition to the launch of the new ES6.
"At Auto Shanghai 2023, we are bringing the NIO House to the show floor once again," the electric vehicle (EV) maker announced today.
The full range of NIO models equipped with the Banyan intelligent system will be presented, the new ES6 will debut and the 2023 ET7 will be officially launched, NIO said.
Banyan is the software architecture for NIO's NT 2.0 platform-based models, and the company's NT 1.0 platform-based models use a software architecture called Aspen.
The upcoming biennial Shanghai auto show will be held from April 18-27, with press days from April 18-19, professional visitor days from April 20-21, and general public admission from April 22-27.
The show will be held at the National Exhibition and Convention Center in Shanghai, and NIO's booth is located in Hall 6.1, Stand 6A01.
The N-Box augmented entertainment console and AR glasses developed by NIO will be equipped on the EC7 for the first time for the public to experience, according to the company.
This is the first time NIO has confirmed the existence of the new ET7, after rumors began to emerge last month.
At the end of last month, some local media reported that the current NIO ET7 had been discontinued and that the facelift would be optimized for exterior and interior details.
On March 28, an image circulating on social media Xiaohongshu showed that the 2023 ET7 will have a new gold exterior option and will be available with a tow hook option.
Inside, the improved ET7 will have several details optimized, including the seats, wireless charging panel power, and low-speed beep, according to the information in the image.
The NIO ET7 was launched at the NIO Day 2020 event on January 9, 2021, the company's first sedan, with deliveries beginning on March 28, 2022.
Deliveries of the ET7 remained around 3,000 units per month for the vast majority of the second half of last year, but the figures slipped to 1,379 units in December.
Regarding the new ES6, NIO mentioned on April 1 that the model will be unveiled at the Shanghai auto show.
Notably, like the ES7, which is known as the EL7 in Europe, the new ES6 will also be known as the new EL6 in international markets, according to a previous NIO press release.
NIO's new ES6 to debut at Shanghai auto show later this month
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In retail, China's NEV penetration rate was 34.2 percent in March, up 6 percentage points from 28.2 percent in March 2022 and up from 31.6 percent in February.
Retail sales of new energy passenger vehicles (passenger NEVs) in China were 543,000 units in March, up 21.9 percent year-on-year and up 23.6 percent from February, according to data released by the China Passenger Car Association (CPCA) on April 10.
This is lower than the CPCA's preliminary figure of 549,000 units released on April 6, and lower than the 560,000 units it estimated in its March 25 report.
Battery electric vehicles (BEVs) continued to dominate, with 383,000 retail sales in March, accounting for 70.5 percent of all NEV retail sales. This represents a 6.4 percent year-on-year increase and a 30.1 percent increase from February.
Plug-in hybrid vehicles (PHEVs) accounted for 160,000 retail sales in March, contributing 29.5 percent of NEV retail sales, up 87.6 percent year-on-year and up 10.4 percent from February.
Retail sales of all passenger vehicles in China were 1,587,000 units in March, up 0.3 percent year-on-year and up 14.3 percent from February, according to the CPCA.
In terms of retail sales, China's NEV penetration rate was 34.2 percent in March, up 6 percentage points from 28.2 percent in March 2022 and up from 31.6 percent in February.
The penetration rate of NEVs was 54.7 percent for local brands, 33.6 percent for luxury brands and 4.2 percent for mainstream joint venture brands.
Wholesale sales of new energy passenger vehicles in China were 617,000 units in March, up 35.2 percent year-on-year and up 24.5 percent from February.
This represents a 31 percent penetration of NEVs at wholesale in March, up 6 percentage points from the 25.1 percent penetration in March 2022 and up from 30.6 percent in February.
Chinese domestic brands saw a NEV penetration of 46.4 percent at wholesale in March, compared to 36 percent for luxury brands and 3.7 percent for mainstream joint venture brands.
China exported 70,000 passenger NEVs in March, with BEVs accounting for 94.3 percent of the total.
SAIC passenger car unit exported 23,654 units, BYD 13,312 units and Tesla China 12,206 units in March.
The recent drop in the price of lithium carbonate has helped manufacturers launch more cost-effective NEV models, the CPCA said.
But at the same time, the recent price cuts by some NEV companies may trigger a wait-and-see mood among consumers, the CPCA said.
Tesla delivers 76,663 vehicles in China in Mar, exports 12,206 from Shanghai plant
The post China's Mar passenger NEV retail up 23.6% MoM to 543,000, CPCA data show appeared first on CnEVPost.
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