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The EV, Autonomous, Battery Announcements Expected At The Nio Day Event Jan. 9

December 22, 2020 1:40 pm
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The EV, Autonomous, Battery Announcements Expected At The Nio Day Event Jan. 9

A catalyst to watch for Chinese electric vehicle start-up Nio Inc – ADR (NYSE:NIO) is likely to be Nio Day, an annual event scheduled for Jan. 9. 

The event, which is historically used by Nio as a platform to announce new vehicle launches, is likely to be no exception this year.

The company is widely expected to launch a new sedan at the event.

A slew of other offerings are also likely at the 2021 Nio Day, Autohome.com.cn reported, citing a speech by Nio President Qin Lihong at a meeting. 

New ET7 Sedan:  Nio is expected to launch a mid-size sedan, the ET7, which is expected to compete with Tesla's Model 3, BYD's Han EV and Xpeng Inc's – ADR (NYSE:XPEV) P7, the report said.

Nio unveiled a sedan, the ET, at the Shanghai Auto Show in April 2019.

It is unclear whether the ET7 is a renamed version of the ET, according to the report.

Related Link: Chinese EV Stocks Rally Despite Delisting Threat, Broader Market Weakness

150kWh Battery Pack: Nio, which in early November announced its 100-kWh battery pack, is set to announce an improved 150-kWh pack at the Nio Day event, Lihong reportedly said.

The new pack will likely give Nio's vehicle a range of over 900km, suggesting more mileage from a single battery than what fuel-efficient Japanese vehicles can squeeze from a tank of gas, CNEVpost reported.

Click here to check out Benzinga's EV Hub for the latest electric vehicle news.

New ADAS System, Second-Gen Power Station: Nio will unveil an NT2.0 autonomous driving platform and also a second-generation battery swap station, Lihong said.

Lihong also reportedly said Nio will shed light on its lidar plans, and that its solutions will be more powerful than the offerings contemplated by its peers in the industry.

NIO Price Action: Nio shares were down 4.14% at $46.95 at last check Tuesday. 

Related Link: An Analyst's Chinese EV Stock Pair Trade: Buy Nio, Short Xpeng

A Nio battery. Courtesy photo. 


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