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Nio To Show New ET7 at April Shanghai Auto Show, Reveals First Glimpse Of Sedan's Production Body

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Nio To Show New ET7 at April Shanghai Auto Show, Reveals First Glimpse Of Sedan's Production Body

NIO Limited (NYSE: NIO) users and investors are expected to get a more detailed glimpse of its first-ever sedan model later this month.

What Happened: Nio, which unveiled its ET7 sedan at the Nio Day event held earlier this year, is expected to exhibit the model at the Shanghai auto show, the CnEVPost reported. The show is scheduled to be held April 19-28.

See also: Best Penny Stocks Under $1

Interior details of the car will likely be made public at the event, the report said.

This follows a statement by a company official put on the Nio App saying that the first ET7 body, with the main structure and cover welding assembly, rolled off the production line at the Hefei manufacturing plant April 1.

"This is a very important part of ET7's verification of the manufacturing process (Confirmation Build). It can fully identify and solve the problems of the body in the manufacturing stage, which is important for future ET7 production," the statement said.

Production of the ET7 is advancing in full swing, according to the official.

The ET7 is scheduled for commercial launch in the first quarter of 2022.

Related Link: Nio Q1, March Deliveries At Record, As EV Maker Stands Up To Industry-Wide Challenges

Why It's Important: Nio's product portfolio now includes three SUVs, namely the ES8, ES6 and EC6. The addition of the ET7 will likely open up an opportunity in an entirely different segment of the market than what the company is currently catering to.

At Nio Day, CEO William Li said the new sedan will have a range of over 1,000 kilometers with the newly-launched 150kWh pack and ultra-low drag coefficient, with the vehicle capable of accelerating from zero to 100km/hour in only 3.9 seconds.

The ET7 is expected to be priced between 378,000 yuan ($57,560) and 526,000 yuan, depending on the edition and whether a user chooses the battery-as-a-service or autonomous-driving-as-a-service offerings.

Although Nio has yet to divulge exact preorder numbers for the ET7, it has hinted that the levels have well exceeded forecasts and have been higher than what it received for any of its previous models.

Nio ended Thursday's session up 1.74% at $39.66.

Related Link: Nio, XPeng File For Hong Kong Listings: Report

Photo courtesy Nio.

 

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