Chinese electric car manufacturer Nio (9866.HK) showcased its latest flagship model, the ET9 executive sedan, at the annual “Nio Day” event. The vehicle boasts self-developed technologies, including Nio’s autonomous driving semiconductor, a 900-voltage electric drive for rapid charging, and large cylindrical battery cells. Priced at an estimated 800,000 yuan ($112,178), the ET9 is positioned in the luxury segment, competing with models like Mercedes Benz’s Maybach and Porsche’s Panamera series. Nio’s founder and CEO, William Li, highlighted the car’s advanced chassis with smooth suspension technology, supplied by U.S. startup ClearMotion, showcasing a technological edge over competitors.
In the face of a challenging market marked by a price war and slowing car demand, Nio aims to leverage these innovations to boost earnings and enhance its appeal to consumers. The company plans to add 1,000 battery swapping stations and double its public chargers in China by 2024. Nio recently secured $2.2 billion in new investment from Abu Dhabi-backed CYVN Holdings, positioning itself as a key player in the competitive Chinese electric vehicle market.