Nio Expected To Begin Taking Bookings For ET7 In January

Nio Expected To Begin Taking Bookings For ET7 In January

Nio Inc NIO plans to begin taking bookings for its electric sedan ET7 from mid-January onwards, cnEVport reported, citing the team working on the model.

What Happened: The deliveries for the electric sedan are expected to begin by the end of the first quarter.

The Shanghai-headquartered Nio plans to gradually ramp up deliveries from a few hundred units a month initially, as per the report.

The ET7 is the fourth vehicle to go on sale from Nio’s lineup of electric vehicles. 

See Also: NIO May Bring ET7's Electric Drive System To All Models

Why It Matters: Nio launched the flagship sedan ET7 in January at the company’s annual day, complete with its second-generation electric drive system, and it is expected to compete with Tesla Inc’s TSLA Model S sedan. 

This system utilizes silicon carbide (SiC), which is considered more efficient, lightweight and compact than silicon. Tesla was the first to use SiC among all peers.

Price Action: Nio shares closed 0.68% higher at $38.66 a share on Friday.

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Photo: Courtesy of Nio

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