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Shares of Chinese electric vehicle maker Nio Inc (NYSE:NIO)shot up on Thursday in Hong Kong after the company's latest product launch renewed investors' hope.
At press time, Nio's stock was up nearly 7%, outperforming peers Li Auto Inc (NASDAQ:LI) and Xpeng Inc (NYSE:XPEV) – which were trading on a muted note in an otherwise subdued broader market.
In a virtual product launch event on Wednesday, Nio unveiled its ES7 SUV, which it says offers a superior driving performance, better visual appeal, and a more luxurious feel.
Features: The car comes with Nio's Digital System, which includes smart hardware and a computing platform. The ES7 will also feature the EV maker's latest autonomous driving package.
Price: The ES7 starts at 468,000 yuan ($69,700) for a 75-kWh battery capacity. The 100-kWh battery model is priced at 526,000 yuan.
Nio has also unveiled upgraded vehicle models for 2022, featuring a digital cockpit controller, sensor hardware, enhanced computing and sensing capabilities, and greater flexibility for future functions.
Price Action: According to data from Benzinga Pro, Nio's stock in the U.S. closed 7.77% higher at $20.11 on Wednesday.
Photo courtesy: Nio
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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