Monthly Archive: June 2023

NIO starts delivery of ET5 Touring in China

The ET5 Touring vehicles currently being delivered by are produced in advance, and consumers who customize the model will have to wait about 3-4 weeks.

(Image credit: NIO)

NIO (NYSE: NIO) today began delivery of the ET5 Touring, which was officially launched in China and Europe yesterday.

The first owners from several cities across China took delivery of the ET5 Touring on June 16, NIO said in an article posted on its mobile app.

NIO did not announce the number of ET5 Touring deliveries today, though it shared images showing deliveries in cities including Xiamen, Suzhou, Chengdu and Guangzhou.

NIO officially launched the ET5 Touring yesterday, and its pricing is identical to that of the regular ET5.

Including the battery, the version with the 75-kWh battery pack starts at RMB 298,000 ($41,860) and the 100-kWh version at RMB 356,000.

Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.

It is worth noting that the ET5 Touring vehicles delivered today are not customized, but were produced by NIO in advance based on designer-recommended configurations to enable quick first delivery.

Consumers who currently customize the ET5 Touring are expected to receive delivery in about 3-4 weeks after locking in their orders, as shown by the information on the configurator for the model in the NIO App.

This is the same approach NIO took when it launched the new ES6 on May 24, when it began deliveries of the SUV the night of the launch.

The pricing of the ET5 Touring was a surprise, as it was previously widely seen to be priced RMB 10,000 to 20,000 higher than the regular ET5.

"Pricing of ET5 Touring is more competitive than we thought -- on par with the incumbent ET5 sedan at Rmb 298k+," Morgan Stanley analyst Tim Hsiao's team said in a research note sent to investors yesterday.

With NIO's broad price cut and the rapid rollout of the new NT 2.0 model, its sales can rebound considerably in the second half of the year, paving the way for 20,000 units per month, Deutsche Bank's Edison Yu's team said in a research note sent to investors today.

Here are more images of the first ET5 Touring deliveries shared by NIO on its mobile app.

(1 $= RMB 7.1193)

NIO ET5 Touring pricing 'a pleasant surprise,' says Morgan Stanley

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Huawei-backed AITO to launch flagship SUV M9 in Q4

The AITO M9 will be built on a new 800 V high-voltage platform, on which will place its new technologies in the cockpit and smart driving areas, according to Richard Yu.

AITO, the car brand backed by Chinese tech giant Huawei, will launch its flagship SUV, the M9, later this year, which will be its third model after the M5 and M7.

The AITO M9 will hit the market in the fourth quarter and will go beyond expectations in terms of luxury, comfort, quietness and intelligence, Richard Yu, CEO of Huawei's intelligent vehicle solutions business, said in a speech at an automotive industry conference in Shenzhen today.

"We have confidence that the M9 will be the most luxurious, highest-end and smartest car in the entire market," he claimed.

The AITO M9 will be built on a new 800 V high-voltage platform on which Huawei will place its new technologies in the cockpit and smart driving areas, according to Yu.

The model will be available in both an extended-range electric vehicle (EREV) version and a battery electric vehicle (BEV) version, he said.

The AITO M5 is currently available in both EREV and BEV versions, while the M7 is only available in an EREV version.

The M9 will be a mobile smart home, office, and mobile smart bedroom, he said, adding that Huawei has very new technologies and experiences to bring to consumers.

AITO is the premium car brand that Huawei and Seres launched on December 2, 2021. It announced the AITO M5 on December 23, 2021, and the AITO M7 on July 4, 2022.

Deliveries of the AITO M5 begin in March 2022 and the first deliveries of the AITO M7 took place on August 24, 2022.

The M5 currently has a starting price range of RMB 259,800 ($36,530) to RMB 331,800 and the M7 is RMB 289,800 to RMB 379,800.

The brand saw strong deliveries in the second half of last year, but this year has been weak.

AITO delivered 5,629 vehicles in May, up 22.77 percent from April. From January to May, it delivered 21,873 vehicles.

In his speech today, Yu gave his view of the Chinese auto industry, saying that competition will become more intense and there will be a big reshuffle in the future.

(1 $= RMB 7.1118)

AITO deliveries in May: 5,629

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BYD rolls out 4 models in Italy as it expands presence in European passenger car market

held a brand and product launch event in Italy, introducing the BYD Atto 3, Han, Dolphin and Seal to local consumers.

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) has officially entered the Italian passenger car market, as it expands its presence in Europe.

The Chinese new energy vehicle (NEV) giant held a brand and product launch event in Italy on June 13, introducing the BYD Atto 3, Han, Dolphin and Seal to local consumers, according to a press release today.

Italy is an important European automotive market and holds a significant position in BYD's efforts to enter overseas markets, BYD said, adding that it introduced new energy commercial vehicles to Italy in 2013.

In the passenger car segment, BYD will work with a number of core local dealers, with the first five stores opening in cities including Milan, Turin and Florence, it said.

The Atto 3, BYD's first global model, is known in China as the Yuan Plus and is already available in multiple overseas markets.

At the Monza Motor Show in Milan, to be held in mid-June, the Atto 3 will be open to the Italian public for test drives, BYD said.

In the future, BYD will continue to increase its localization investment in the Italian market and expand its passenger car model matrix, the company said.

BYD, China's largest NEV maker, stopped production and sales of vehicles powered entirely by internal combustion engines last March to focus on plug-in hybrids and pure electric vehicles.

The company sold 240,220 NEVs in May, up 108.99 percent from 114,943 units a year earlier and up 14.23 percent from 210,295 units in April, according to figures it announced earlier this month.

In May, BYD sold 10,203 NEVs in overseas markets, down 31.19 percent from 14,827 units in April.

In Europe, BYD entered the passenger car markets including Germany, Sweden and Denmark last year and came into the UK in March this year.

BYD officially names F brand Fang Cheng Bao, initial model to be launched this year

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NIO ET5 Touring pricing ‘a pleasant surprise,’ says Morgan Stanley

While touring cars might be relatively niche compared to sedans, some comparable offerings in the market can still deliver monthly sales of about 10,000 units on a consistent basis, Tim Hsiao's team said.

(Image credit: CnEVPost)

(NYSE: NIO) officially launched the ET5 Touring yesterday, and its pricing looks competitive to analysts.

"Pricing of ET5 Touring is more competitive than we thought -- on par with the incumbent ET5 sedan at Rmb 298k+," Morgan Stanley analyst Tim Hsiao's team said in a research note sent to investors yesterday.

While the segment could be relatively niche, NIO management believes the ET5 Touring is likely to outsell its sedan version, the team noted.

In China, the available versions and pricing of the ET5 Touring are identical to those of the regular ET5 sedan.

Including the battery, the 75-kWh version starts at RMB 298,000 ($41,890) and the 100-kWh version at RMB 356,000.

Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.

Compared to the regular ET5, the ET5 Touring has more rear-seat headroom, and more vertical space in the trunk, while it also has a lower driving position, and the option for electrochromic sunroofs, Hsiao's team noted.

"Such retrofits will help increase the TAM of the ET5 family by attracting users who attach greater value to the in-car space," the team said.

It's worth noting that in China, derivatives of sedans are a niche market.

However, the unexpected success of the 001, the first model of 's Zeekr brand, has made such models increasingly popular.

For the full year 2022, Zeekr delivered 71,941 Zeekr 001s, reaching its goal of delivering 70,000 vehicles for the year.

While touring cars might be relatively niche compared to sedans, some comparable products in the market still manage to deliver monthly sales of about 10,000 units on a consistent basis, according to Hsiao's team.

In China, the competitive landscape in the touring market is relatively benign, with the main comparables coming mainly from foreign brands such as the Audi S4, Mercedes-Benz CLA and Volvo V60, according to the team.

Whether NIO can successfully ramp up sales of the ET5 Touring in the coming months to meet its goal of reaching 20,000 units per month in the second half of the year remains to be seen, the team said, adding that the company's management expects the ET5 family to contribute about 30 percent of sales.

The ET5 sedan, ET5 Touring and the new ES6 will dominate NIO's sales, Hsiao's team said.

NIO launched the new ES6, the most important model in its history, in China on May 24, with deliveries starting on launch night.

As with the new ES6, NIO produced some ET5 Touring vehicles in advance based on a combination of designer-recommended configurations, and its deliveries officially began today.

($1 = RMB 7.1136)

NIO launches ET5 Touring in China with same pricing as regular ET5

The post NIO ET5 Touring pricing 'a pleasant surprise,' says Morgan Stanley appeared first on CnEVPost.

For more articles, please visit CnEVPost.

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