Author: Phate Zhang/CnEVPost

XPeng CEO teases MPV model called X9

will open up the MPV market to a younger demographic with the X9, said He Xiaopeng, chairman and CEO of the EV maker.

XPeng (NYSE: XPEV) is starting to warm up for the company's first MPV (multi-purpose vehicle) model, after previously mentioning plans to build such a model.

In addition to the G6, XPeng has recently been building a new MPV, the X9, the Chinese electric vehicle (EV) maker's chairman and CEO He Xiaopeng said today on Weibo.

"We will open up the MPV market for the younger demographic with this product," Mr. He said.

Mr. He's Weibo didn't mention anything more, but was accompanied by a picture showing the logo of the MPV's name.

XPeng had mentioned last year that the company would launch its first MPV in 2023, and provided more details during its earnings call on May 24.

XPeng will launch a 7-seat all-electric MPV, internally codenamed X9, in the fourth quarter of this year, the company's management said in the call.

Mr. He's Weibo today implies that the model is being finally named X9.

XPeng is defining the 7-seat MPV thinking about how young people associate with MPVs and will go into more detail about the logic of young people buying MPVs at its launch at the end of the year, the company said.

In the second half of the year, gross margin levels will steadily improve with deliveries of the G6, P7i and the MPV, the company said in the Wednesday call.

There are few good MPVs to choose from in the Chinese market before 2022, with the most well-known being the Buick GL8 and the Toyota Alphard. There are even fewer new-energy MPVs.

Dongfeng Motor's EV subsidiary Voyah launched its MPV model Voyah Dreamer in China on May 7, 2022.

's premium brand Denza launched its D9 MPV on May 16, 2022, and launched its Zeekr 009 MPV on November 2.

(NASDAQ: LI) is also expected to roll out its first MPV by the end of the year, though (NYSE: NIO) has stressed several times that it has no plans to build such a model in the near future.

It's worth noting that the MPV market has been a niche segment in China.

Retail sales of passenger cars in China in April were 1,623,568 units, with 779,511 sedans, 748,503 SUVs and 95,554 MPVs, according to the China Passenger Car Association (CPCA).

This means that MPVs contributed only 5.9 percent of China's passenger car sales in April.

China Apr auto sales breakdown: Sedan 779,511, SUV 748,503, MPV 95,554

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SAIC-GM-Wuling launches new mini EV Yep, prices start at $11,290

The Baojun Yep is available in two versions, with the pricier one equipped with a smart driving system developed by SAIC-GM-Wuling with drone maker DJI.

(Image credit: SAIC-GM-Wuling)

SAIC-GM-Wuling today officially launched its new electric vehicle (EV), the Yep, the latest addition to its line of mini EVs.

The Yep is available under SAIC-GM-Wuling's Baojun brand in two versions, starting at RMB 79,800 ($11,290) and RMB 89,800 respectively.

The Baojun Yep looks somewhat similar to the Suzuki Jimny, and SAIC-GM-Wuling said the model uses the Square Box design language to target the needs of younger customers.

The length, width and height of the Baojun Yep are 3,381 mm, 1,685 mm and 1,721 mm respectively, with a wheelbase of 2,110 mm.

For comparison, the Hongguang Mini EV, another SAIC-GM-Wuling model, measures 3,059 mm in length, 1,521 mm in width and 1,614 mm in height, with a wheelbase of 2,010 mm.

The Baojun Yep is powered by a permanent magnet synchronous motor with a peak power of 50 kW and a peak torque of 140 Nm.

The model has a battery pack capacity of 28.1 kWh and a CLTC range of 303 km.

It supports fast charging and can go from 30 percent to 80 percent in 35 minutes.

The Baojun Yep with a starting price of RMB 89,800 is equipped with the Lingxi intelligent driving system announced in August 2022 by SAIC-GM-Wuling and DJI Automotive, the automotive division of drone manufacturer DJI.

The system is based on SAIC-GM-Wuling's "Emotion Engine" concept, which focuses on urban mobility scenarios, SAIC-GM-Wuling previously said.

The Lingxi intelligent driving system takes advantage of DJI's technological strengths in the field of binocular cameras and is based on the latter's algorithms in the field of vision perception and experience in vision perception systems for drones.

SAIC-GM-Wuling's 2023 Baojun KiWi EV is the first model to use the system.

Equipped with the Lingxi system, the Baojun Yep allows users to turn on intelligent driving with a single click, enabling functions including obstacle recognition and response, and intelligent speed regulation in curves.

The model is also equipped with smart parking assist, which enables full-scene automatic parking.

Baojun previewed the model on May 9, when it also shared images and a video of the two-door pickup version of the Yep.

SAIC-GM-Wuling is a joint venture between SAIC Group, General Motors and Liuzhou Wuling Automobile, headquartered in Liuzhou, Guangxi Zhuang Autonomous Region in southwestern China.

It sells vehicles based on the GSEV (Global Small Electric Vehicle) architecture in China, including the Mini EV, KiWi EV, Nano EV, and Air EV. In addition to these pure electric models, SAIC-GM-Wuling also sells fuel-powered SUVs, MPVs, and vans.

In the small EV segment, in addition to the hot-selling Mini EV, SAIC-GM-Wuling launched the mini EV Air EV in China last December and the Binguo EV at the end of March this year.

Notably, SAIC-GM-Wuling has seen a decline in NEV sales so far this year, while other major NEV makers in China have seen sales growth.

In January-April, SAIC-GM-Wuling's NEV retail sales were 111,604 units, down 15.9 percent from 132,658 units in the same period last year, according to data from the China Passenger Car Association (CPCA).

As a comparison, saw sales increase 81.3 percent year-on-year to 702,608 units and China grew 61.5 percent year-on-year to 177,385 units during this period.

In an effort to boost sales growth, SAIC-GM-Wuling began allowing consumers to pay only for the body and rent the battery when purchasing the Mini EV on May 11, lowering the purchase threshold to RMB 19,800.

On May 22, SAIC-GM-Wuling announced a price cut of up to RMB 13,000 for the Hongguang Mini EV family, saying the move was in response to China's call to promote NEV consumption in rural areas.

($1 = RMB 7.0692)

Wuling cuts prices on its mini EVs by up to $1,850

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NIO’s local peers react to launch of new ES6

The launch of the new ES6 has triggered rare reactions from several of 's local counterparts, highlighting the fierce competition in China's EV market.

(Image credit: CnEVPost)

New model launches by local automakers rarely trigger reactions from their peers, and the new NIO ES6 is apparently one of those rare ones.

NIO officially launched the new ES6 in China last night, with its event starting at 7 pm and ending around 8:10 pm after announcing the price.

About a half hour after the event, Li Xiang, founder, chairman and CEO of (NASDAQ: LI), said on Weibo that he had set a small goal in advance for his team to reach 20,000 monthly sales of the company's five-seat SUV, the Li L7, in October.

"Supplier partners, please trust us to keep up with capacity! " Li wrote at 8:40 pm yesterday.

Although Li did not mention NIO, he seemed to be reacting to the launch of the ES6, as the two models are seen as competitors in China, even though the ES6 is purely electric and the Li L7 is an extended-range electric vehicle (EREV) that can be refueled.

In contrast to that Li Auto CEO's hint, an executive from HiPhi, another local car company, commented directly on the launch of the new ES6.

"Congratulations to NIO on the launch of the new ES6! Also sharing some information with those who follow HiPhi," HiPhi's brand and communications manager Xu Bin said on Weibo at 8:52 pm yesterday.

HiPhi is in the process of finalizing the pricing for the HiPhi Y series, with the 560 km range version expected to be set at a starting price of RMB 369,000 ($52,220), he said.

The HiPhi Y is HiPhi's third model and will be the brand's cheapest all-electric vehicle, with Xu revealing a price just RMB 1,000 higher than the starting price of the NIO ES6.

"HiPhi Y will open for delivery in July this year. If you are in a hurry to buy a car, you can go test drive the ES6, and if you are not in a hurry, you can wait for HiPhi Y," he wrote.

Compared to the comments of the two above, the words of a SAIC-GM-Wuling executive were more friendly, probably because the company is not in direct competition with NIO.

"Another new car went on sale this evening, the model costs more than RMB 300,000 and no one says it's expensive," Zhou Jinkai, deputy general manager of SAIC-GM-Wuling's brand department, wrote on Weibo at 11:38 pm last night.

"It seems we still have to build up the brand, the product, the technology, all around," he said.

SAIC-GM-Wuling will launch a new mini EV model, the Baojun Yep, later today.

($1 = RMB 7.0663)

NIO officially launches new ES6, potentially lifting key factor holding back sales

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NIO starts delivery of new ES6 on night of launch day

Deliveries of the new ES6 began in 13 regions on the night of its launch on May 24, although officially announced that deliveries would begin on May 25.

(Image credit: NIO)

NIO (NYSE: NIO) previously said that deliveries of the new ES6 would begin the next day after its launch. But as it turned out, the new SUV was delivered to its first owners on the same night it went on sale.

Deliveries of the new ES6 started in 13 regions of China the night of its launch on May 24, NIO announced on Weibo early this morning.

The electric vehicle (EV) maker shared several images showing some of the scenes from the model's first deliveries on the night of May 24.

NIO officially launched the new ES6 during an event that began at 7 pm Beijing time on May 24, and pricing information for the model was only announced near the end of the event at around 8 pm.

The new ES6 is available in only one version, unlike the three previously offered versions of the first-generation ES6.

Including the battery, the new ES6 with the 75-kWh standard range battery pack starts at RMB 368,000 ($52,220), and for the 100-kWh version, the starting price will be RMB 426,000.

If consumers choose to purchase the car using NIO's BaaS (battery as a service) program, the new ES6 starts at RMB 298,000, with monthly rental fees of RMB 980 for the 75-kWh pack and RMB 1,680 for the 100-kWh.

For owners who get delivery of the new ES6 on the day of launch, they may be big fans of NIO and are not price sensitive, and getting delivery as early as possible is what they would prefer.

NIO has already begun production of the new ES6 based on designer-recommended configuration combinations, and deliveries would begin on May 25 for consumers who purchase these vehicles, a post on the NIO App said yesterday.

Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June, it said.

($1 = RMB 7.0473)

NIO officially launches new ES6, potentially lifting key factor holding back sales

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NIO officially launches new ES6, potentially lifting key factor holding back sales

has produced a batch of the new ES6 and deliveries will begin on May 25. Deliveries of customized vehicles will begin in mid-June.

(Image credit: CnEVPost)

NIO (NYSE: NIO) today officially launched the new ES6 in China, potentially lifting a key factor that has held back its sales over the past few months.

The electric vehicle maker is allowing consumers to lock in orders for the new ES6 starting today, and those interested can make appointments to test drive the model today, with first deliveries set to begin tomorrow.

Like NIO's other models based on the latest NT 2.0 platform, the new ES6 features strong power and assisted driving hardware. As NIO's least expensive SUV, the new ES6 has competitive pricing.

Including the battery, the new ES6 with a 75-kWh standard range battery pack starts at RMB 368,000 ($52,220), and for the 100-kWh version, it starts at RMB 426,000.

If consumers choose to purchase the car using NIO's BaaS (battery as a service) program, then the new ES6 starts at RMB 298,000, with a monthly rental fee of RMB 980 for the 75-kWh pack and RMB 1,680 for the 100-kWh.

Notably, that price is at the low end of the price range in a questionnaire NIO sent to some NIO App users on May 11 to solicit pricing opinions for the new ES6.

Its previous action was more like an intentional expectation management move so that potential consumers would not be disappointed with the final pricing.

Many other local automakers have similar strategies, such as (OTCMKTS: BYDDY), which typically announces pre-sale prices for new models and then announces lower final prices.

The new ES6 is also less expensive than the first generation of the model based on the NT 1.0 platform, which was previously offered in three versions with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

NIO has begun production of the new ES6 based on the designer's recommended configuration combinations, and deliveries will begin on May 25 for consumers who purchase these vehicles, a post on the NIO App today said.

Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries for these vehicles will begin in mid-June.

The new ES6 can accelerate from 0 to 100 km/h in 4.5 seconds under half-load conditions, with a distance of 34.5 meters from 100 km/h to the brake.

The new ES6 has a range of 490 km with the 75-kWh standard range battery pack and 625 km with the 100-kWh pack.

NIO's 150-kWh semi-solid-state battery pack, which will be put into use in July, will give the new ES6 a range of 930 km, according to William Li, the company's founder, chairman and CEO.

NIO is scaling back the benefits it offers consumers, announcing on April 10 that from June 1, consumers who purchase the NIO ET7, EC7, ES7 and ET5 will no longer continue to receive free home chargers, and the free battery swap benefit will be adjusted to four per month.

NIO has been providing consumers with free home chargers and four free battery swaps per month for the past several years. If consumers choose to forgo the free home charger, they will receive 6 free battery swaps per month under its current policy.

For the new ES6 and the new ES8, these benefit changes will begin on August 1.

For NIO, the new ES6 is crucial, as it is the least expensive of NIO's SUVs and has been its main seller for the past several years.

NIO launched the first-generation ES6 in December 2018 and began delivering the model in China in June 2019.

In 2019, NIO delivered 20,565 vehicles, including 9,132 ES8s and 11,433 ES6s, with the ES6 contributing 55.59 percent, according to data monitored by CnEVPost.

In 2020, the company delivered 43,728 vehicles, including 10,861 ES8s, 27,945 ES6s and 4,922 EC6s, with a 63.9 percent contribution from the ES6.

In 2021, NIO delivered 91,429 vehicles, including 20,050 ES8s, 41,474 ES6s and 29,905 EC6s, with a 45.36 percent contribution from the ES6.

Available data for 2022 show that from January to August, 32,877 units of ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units during this period.

Potential consumers' wait for the new ES6 over the past few months may have been a critical factor in dampening NIO's sales, causing its April deliveries to fall to 6,658 units.

In the first three weeks of the month, NIO vehicles registered just 3,700 insurance units in China, data monitored by CnEVPost shows.

($1 = RMB 7.0473)

New NIO ES6 launch: Live updates

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XPeng Q1 earnings: Deutsche Bank’s first look

" delivered even softer 1Q23 results than we previewed, accompanied by a muted 2Q outlook," Edison Yu's team said.

XPeng (NYSE: XPEV) reported weaker-than-expected first-quarter earnings today, and as usual, Deutsche Bank analyst Edison Yu's team provided their first look.

Here is the research note the team sent to investors today.

1Q23 Earnings First Look

XPeng delivered even softer 1Q23 results than we previewed, accompanied by a muted 2Q outlook.

Volume for 1Q was already reported at 18,230 units, leading to revenue of 4.03bn RMB, essentially in line with our 4.04bn estimate; vehicle pricing was slightly lower, offset by "Services and other."

Total gross margin declined 700bps QoQ to just 1.7%, missing our 5.0% estimate (consensus 6.1%), driven by lower vehicle margin (-2.5% vs. our 0.4% due to aggressive price cuts/promotions).

Opex of 2,654m came in below our model as higher R&D was offset by lower SG&A.

All together, EPS of (2.57) came in about in line with our (2.52) forecast.

Management provided a muted 2Q23 outlook, calling for 21,000-22,000 deliveries, vs. our 24,000 forecast, translating into 4.5-4.7bn RMB in revenue (vs. our 5.6bn).

This implies May/June seeing little to no MoM improvement as April garnered 7,079 units and pricing/mix facing further pressure (G9 demand still struggling and P7i constrained by component supply).

On the earnings call, we will look for further commentary on the exact timing of G6 deliveries (SOP seemingly has already begun), pricing, and volume expectations.

XPeng Q1 earnings miss expectations, gross margin falls to 1.7%

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New NIO ES6 launch: Live updates

is holding a launch event for the new ES6 in China, and this article is a live update from CnEVPost based on a live video stream.

NIO (NYSE: NIO) is holding a launch event for the new ES6 in China, and the following is a live update from CnEVPost based on a live video stream.

This post will be continuously updated until the end of the launch, with the latest content at the top.

NIO will open the City NAD function in a small scope in Shanghai in the near future.

The new ES6 comes standard with 23 safety and driver assistance features.

The new ES6 has a range of 490 km with the 75-kWh standard range battery pack and 625 km with a 100-kWh pack.

The new NIO ES6 can get a range of 930 km when equipped with the 150-kWh battery pack.

NIO's 150-kWh semi-solid-state battery pack will be available for use in July.

NIO develops these parts in-house because it can respond to user feedback more quickly.

The new ES6 is equipped with NIO's intelligent chassis controller, third generation continuous damping control system.

All of NIO's cars are built to the highest safety standards, said Li.

The new ES6 can accelerate from 0 to 100 km/h in 4.5 seconds under half-load conditions.

The new NIO ES6 is equipped with NIO's in-house developed high-performance 4-piston calipers, allowing the vehicle to brake from 100 km/h to stop in as short a distance as 34.5 meters.

The NIO ES6 will be known as the EL6 in Europe (because of the lawsuit by Audu).

The new NIO ES6 will be available in 10 exterior colors.

NIO invited several users to jointly present the new ES6 at the launch event, including an architect and an automotive media reporter, the first time it has done so for a new car launch.

William Li, Founder, Chairman and CEO of NIO, began his presentation.

NIO pins high hopes on new ES6 with unprecedented delivery efficiency and marketing campaign

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XPeng Q1 earnings miss expectations, gross margin falls to 1.7%

reported a negative 2.5 percent vehicle margin for the first quarter, a decline attributed to increased sales promotions and the expiration of the NEV subsidy.

XPeng (NYSE: XPEV) today reported weaker-than-expected first quarter results, with gross margins falling sharply to low single digits due to sales promotions.

The company reported first-quarter revenue of RMB 4.03 billion ($590 million), down 45.9 percent year-on-year and down 21.5 percent from the fourth quarter, according to its unaudited earnings report released today.

This was below Wall Street analysts' estimates of RMB 4.22 billion and lies near the lower end of the guidance range it previously provided of RMB 4 billion to RMB 4.2 billion.

XPeng reported first-quarter vehicle sales revenue of RMB 3.51 billion, down 49.8 percent year-on-year and down 24.6 percent from the fourth quarter of 2022.

The decreases were mainly due to lower vehicle deliveries and the discontinuation of new energy vehicle (NEV) subsidies in China, XPeng said.

Previously published figures have shown that XPeng delivered 18,230 vehicles in the first quarter, slightly above the lower end of the guidance range of 18,000 to 19,000 vehicles.

XPeng's gross margin was 1.7 percent in the first quarter, compared with 12.2 percent and 8.7 percent in the same period last year and the fourth quarter of 2022, respectively.

It reported a negative 2.5 percent vehicle margin in the first quarter compared to 10.4 percent in the same period in 2022 and 5.7 percent in the fourth quarter of 2022.

That decline was due to increased sales promotions and the expiration of the NEV subsidy, XPeng said.

XPeng's R&D expenses in the first quarter were RMB 1.30 billion, up 6.1 percent year-on-year and up 5.3 percent from the fourth quarter of 2022.

These increases were mainly due to higher expenses related to the development of new models to support future growth.

It reported selling, general and administrative expenses of RMB 1.39 billion in the first quarter, a decrease of 15.5 percent year-on-year and a decrease of 21.0 percent from the fourth quarter of 2022.

This was mainly due to lower commissions to franchisees and lower marketing and advertising expenses, XPeng said.

XPeng reported a net loss of RMB 2.34 billion in the first quarter, compared with RMB 1.70 billion in the same period last year and RMB 2.36 billion in the fourth quarter of 2022.

Non-GAAP net loss, excluding stock-based compensation expense, was RMB 2.21 billion in the first quarter compared to RMB 1.53 billion in the same period in 2022 and RMB 2.21 billion in the fourth quarter of 2022.

XPeng reported both basic and diluted net loss per ADS of RMB 2.71 in the first quarter, compared to RMB 2.00 in the same period last year and RMB 2.74 in the fourth quarter of 2022.

It reported a non-GAAP basic and diluted net loss per ADS of RMB 2.57 for the first quarter, compared to RMB 1.80 for the same period last year and RMB 2.57 for the fourth quarter of 2022.

As of March 31, XPeng had cash and cash equivalents, restricted cash, short-term investments and time deposits of RMB 34.12 billion.

This compares to RMB 41.71 billion as of March 31, 2022 and RMB 38.25 billion as of December 31, 2022.

XPeng expects second-quarter vehicle deliveries to be in the range of 21,000 to 22,000 units, a decrease of about 36.1 percent to 39.0 percent year-on-year.

It expects total revenue for the second quarter to be between RMB 4.5 billion and RMB 4.7 billion, a decrease of about 36.8 percent to 39.5 percent year-on-year.

Considering XPeng delivered 7,079 vehicles in April, the guidance implies that the company expects it will deliver a total of 13,921 to 14,921 vehicles in May and June.

XPeng's deliveries have continued to be weak since the second half of last year, with the G9 launch failing to generate consumer enthusiasm.

The company's sales now appear to be dampened again by the G6 as potential consumers wait for the model, whose launch and delivery is expected by the end of June.

XPeng sees 1st G6 production vehicle off line

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BYD rolls out 1st energy storage system using blade batteries

has been using blade batteries in its full line of passenger cars and released a bus chassis platform using blade batteries in September last year.

BYD is starting to use its signature blade battery in its energy storage systems, marking another major use of the battery technology in the company's business after passenger cars and electric buses.

BYD launched its first energy storage system based on blade batteries, the BYD MC Cube, at a solar-related trade show today, according to a live video replay.

The energy storage system is equipped with blade battery cells that have passed pinprick tests and adopts a technology called CTS (cell to system).

These blade batteries use a module-less, pack-less design and are integrated directly into the system, reducing the number of components by about 36 percent, the company said.

This approach improves space utilization by about 98 percent, allowing for a structural strength improvement of about 30 percent.

In March 2020, BYD officially unveiled its blade battery based on lithium iron phosphate chemistry, and in July 2020 it launched its flagship sedan Han, the first to carry the battery.

To date, the new energy vehicle giant's entire lineup of passenger cars uses the battery.

On September 19, 2022, BYD brought the battery technology to electric buses by debuting what it called the eBus Blade Platform, a bus chassis technology platform that uses the blade battery, at the IAA Transportation event in Hannover, Germany.

It is worth noting that BYD's previously announced 2022 annual report provides more details about this energy storage system.

BYD MC Cube is a new generation energy storage system with ultra-high capacity density, ultra-safety, ultra-long life and ultra-low cost built by BYD to gain the No. 1 share of the global energy storage market, according to the report.

BYD had already been developing four models of that energy storage system in February 2022, and they would all begin mass production in March 2023, the report said.

When assembled into 20-foot containers, the energy storage system can have a capacity of 5.36 MWh per unit.

BYD's MC Cube highlights the technical capabilities of BYD's energy storage system innovation, which is expected to accelerate the world's energy revolution process, the annual report said.

BYD's installed power and energy storage battery capacity in April was about 9.954 GWh, up 59.47 percent from 6.242 GWh in the same month last year and up 0.64 percent from 8.952 GWh in March, according to data it announced on May 2.

Tesla to build new Megafactory in Shanghai to produce Megapack energy storage system

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NIO counting down to new ES6 launch, deliveries ready to go

Some auto bloggers on Weibo said is gearing up for deliveries of the new ES6, which could start even as soon as the launch event is over.

NIO (NYSE: NIO) is counting down to the launch of the new ES6, with the model that will be key to reversing its weak sales trend less than eight hours away from its official launch.

Visitors to NIO's website can see the countdown, and as of press time, the launch event for the new ES6 is 7 hours, 30 minutes, and 30 seconds away.

The launch event of the new ES6 will begin at 7:00 pm Beijing time on May 24 (7:00 am US Eastern time on May 24), and viewers will be able to watch a live video stream on channels including the NIO App, NIO.com, and NIO Weibo.

NIO announced on May 16 that test drives of the new ES6 will be available starting on launch day and deliveries will begin on May 25.

This will be NIO's fastest model from official launch to delivery, as its local peers, including (NASDAQ: LI), have proven that efficient delivery is critical to success in the highly competitive Chinese EV market.

Some auto bloggers on Weibo said that NIO is already preparing for deliveries of the new ES6, which could start even at the end of the launch event.

NIO originally said deliveries of the new ES6 would start on May 25, but because buyers want to get their hands on the new car as soon as possible, deliveries could start tonight, according to Wu Ying, an auto blogger with 970,000 followers on Weibo.

"What I know so far is that there are already a few cars in Shenzhen that are being readied and will be available for delivery at the end of the launch tonight," he said.

(Image credit: Wu Ying on Weibo)

Notably, NIO has not yet announced the price of the new ES6, which is expected to be below RMB 400,000 yuan ($56,700).

NIO gave the new ES6 its debut on the first day of the Shanghai auto show on April 18, when it began allowing consumers to pay an RMB 5,000 deposit to reserve the model.

On May 11, a large number of NIO App users received a push message from NIO containing a questionnaire asking them to vote on what they thought was a reasonable price for the new ES6.

NIO offered six options in that questionnaire: below RMB 368,000, RMB 368,000, RMB 378,000, RMB 338,000, RMB 398,000, and RMB 398,000 or more.

On May 20, NIO announced that the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.

On May 22, it said the model was available in more than 330 NIO stores in 100 cities.

NIO's showrooms include the flagship NIO Houses as well as the smaller NIO Spaces, and they numbered 110 and 270 in China, respectively, as of April 30, according to data it released on May 1.

NIO released its first-generation ES6 in December 2018 and began delivering the model in China in June 2019.

Available data for 2022 show that from January to August, 32,877 ES6 units were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period.

The wait for the new ES6 by potential consumers may have depressed NIO's deliveries.

In the first three weeks of May, insurance registrations for NIO vehicles were 3,700, according to data from earlier this month.

($1 = RMB 7.0554)

China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400

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