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The Nio ET5 Touring is a cool station wagon with 490 hp, 680 km of CLTC range and a starting price of 31,850 USD. Its deliveries will start tomorrow in China.
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NIO (NYSE: NIO) will officially launch the ET5 Touring today, with its launch event starting at 19:00 Beijing time, and CnEVPost will be updating the event's main content in real-time in this post.
Here is what is already known:
NIO starts accepting consumer reservations for the ET5 Touring in China on June 10, and its first deliveries will start tomorrow June 16.
NIO will hold the European launch of the model on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time).
The ET5 Touring measures 4,790 mm in length, 1,960 mm in width and 1,499 mm in height, and has a wheelbase of 2,888 mm, in line with the regular ET5 sedan, a previous regulatory filing show.
It is equipped with dual motors with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.
Its battery suppliers include CALB, in addition to CATL.
Below are the main contents of the NIO ET5 Touring launch event, with the latest at the top.
Including the battery, the starting price of the NIO ET5 Touring in China is RMB 298,000 ($41,620), which is the same as the starting price of the regular ET5.
NIO ET5 Touring will be available in China, Germany, Denmark, Netherlands, Norway and Sweden.
The NIO China team began participating in the launch.
The ET5 Touring with a 100-kWh long-range battery pack has a WLTP range of up to 560 km.
The ET5 Touring is available in 10 exterior colors.
The ET5 Touring launch event began with the NIO Europe team introducing the model at the NIO House in Frankfurt.
This is the first time that NIO starts the launch of a new model with an international team presentation.
Store visit: First impression of NIO ET5 Touring before official launch
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Deliveries of the ET5 Touring in China will begin tomorrow, and NIO management expects the model to enhance its competitiveness in the premium family car market.
NIO (NYSE: NIO) will hold a launch event for the ET5 Touring starting today at 19:00 Beijing time (7:00 am US Eastern time), and its official website is showing a countdown.
As of press time, the launch of the NIO ET5 Touring in China, themed "Journey Ahead," has 7 hours and 43 minutes to go. The delivery of the model in China will officially start tomorrow.
NIO's English website is also showing a countdown to the European launch event with the theme "Inspired By Life", which will start in 13 hours and 43 minutes.
The ET5 Touring will be the first NIO model to be launched at a global launch event. The company will hold the European launch of the model on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time).
The ET5 Touring launch will be an event across six countries, NIO announced on June 10, when a post on the NIO App hinted that the model would be released to consumers in China, Norway, Sweden, Denmark, the Netherlands, and Germany.
Below is a video posted today by the NIO App of the ET5 Touring on a track drive in Germany.
NIO began accepting pre-orders for the ET5 Touring in China on June 10, although the model's specifications and price have not yet been announced.
For the ET5 Touring, many expect that its starting price in China, including the battery, will likely be 10,000 yuan ($1,400) to 20,000 yuan higher than that of the regular ET5.
NIO lowered the starting prices for all models by RMB 30,000 on June 12 and made the battery swap service, which was previously free several times a month, a paid option.
Under the latest pricing system, the starting price for the regular ET5, including the battery, is reduced to RMB 298,000. If consumers choose to lease the battery using the BaaS (battery as a service) program, then the starting price of the vehicle is RMB 228,000.
On March 9, the Chinese Ministry of Industry and Information Technology (MIIT) announced the latest batch of models that will be allowed to be sold in China, and the NIO ET5 Touring was included in the list.
The model has a length, width and height of 4,790 mm, 1,960 mm and 1,499 mm respectively, and a wheelbase of 2,888 mm, in line with the ET5 sedan, according to the filing information.
It is equipped with dual motors produced by NIO's electric drive systems division in Hefei, Anhui province, with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.
As with several other NIO models based on the NT 2.0 platform, the NIO ET5 Touring supports the option of a retractable electric tow hook, which can tow a maximum of 1,400 kg of caravan weight.
The model's battery supplier includes CALB in addition to CATL, as do the new EC6, EC7, new ES8 and new ES6.
The ET5 Touring can meet the diverse use scenarios of individual and family users, greatly enhancing the company's competitiveness in the high-end family car market, William Li, founder, chairman and CEO of NIO, said during a June 9 analyst call following the company's first-quarter earnings announcement.
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Store visit: First impression of NIO ET5 Touring before official launch
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This will be Tesla's first presence at an auto show in China since April 2021, and NIO will exhibit the ET5 Touring at the event and will hold a brief press conference on June 16.
(Image shows NIO's booth at the Shanghai auto show in April 2023. Credit: CnEVPost)
The southern Chinese city of Shenzhen will host an auto show starting this Friday, with Tesla (NASDAQ: TSLA) and new Chinese carmakers including NIO (NYSE: NIO) participating.
The 2023 Guangdong-Hong Kong-Macao Greater Bay Area International Auto Show (Auto Shenzhen 2023) will be held at the Shenzhen Convention and Exhibition Center starting June 16, where Tesla is one of the main exhibitors, according to information released today by the show's organizers.
This will be Tesla's first participation in an auto show in China since the Shanghai auto show in April 2021.
On April 19, 2021, on the first day of the last Shanghai auto show, a female owner got on the roof of a car at the Tesla booth and accused Tesla of brake failure. As of today, the dispute is still ongoing.
Since the drama, Tesla has not participated in any more auto shows in China, including the 2023 Shanghai auto show two months ago.
June 16 is the media day for the upcoming show, and general admission will be available from June 17 to June 24.
Tesla's booth is located in Hall 9 on the 1st floor, next to XPeng's (NYSE: XPEV) booth. The booths of Huawei-backed AITO, Smart, Leapmotor, Rising Auto, and Voyah are also in the area.
NIO will also be at the show and will be showcasing the ET5 Touring, according to the event's organizers.
The day before that show starts, NIO will launch the ET5 Touring in China on June 15, with its launch event starting at 19:00 Beijing time. The company will also launch the ET5 Touring and the new ES6 in Europe a few hours later on the same day.
NIO's booth at the Shenzhen auto show is in Hall 3, near the booths of Bentley and Lotus. The company will hold a press conference at the show on June 16 from 10:00 to 10:30.
The last show, Auto Shenzhen 2022, started on May 28, 2022 and ran through June 5. It was the first auto show in China last year.
NIO's booth at Auto Shenzhen last year was also in Hall 3, a two-floor area where the first floor displayed the full range of models, a transparent second-generation battery swap station and NIO Power's products. The second floor includes a relaxation area, NIO Cafe, and Joy Camp.
In addition to Tesla, NIO and XPeng, new energy vehicle (NEV) makers including BYD (OTCMKTS: BYDDY), Li Auto (NASDAQ: LI) and Neta will also participate in Auto Shenzhen 2023.
Store visit: First impression of NIO ET5 Touring before official launch
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A fake rumor yesterday claimed that Mercedes-Benz will use NIO's battery swap network and will build its next-generation models based on NIO's standards.
(Image credit: CnEVPost)
Rumors about a partnership between NIO (NYSE: NIO) and German luxury car maker Mercedes-Benz were widely circulated on Chinese social media networks yesterday. But this was later denied.
One of the most widely circulated was an image with text claiming that Mercedes-Benz would use NIO's battery swap network and would build next-generation battery swap-enabled models based on NIO's standards.
In the comments section of a Weibo user's post sharing the image, NIO's legal department left a message later yesterday saying the image was a forgery.
Ma Lin, NIO's senior director of corporate communications, later retweeted the message. As of press time, the Weibo post has been deleted.
CnEVPost saw the image yesterday in several WeChat groups, as well as a chat transcript claiming that NIO had entered into a partnership with Mercedes-Benz.
The image mimics the style of the NIO App page and the company's statement, but the publisher of the false statement does not exist among NIO App users.
These false rumors appear at an interesting point in time, making it particularly noticeable.
On June 12, NIO announced an immediate RMB 30,000 ($4,200) reduction in the starting prices of all new models, but the previously free monthly battery swap service became a paid option.
On the same evening, NIO held a communication meeting with its customers and broadcasted the meeting live on its social media platforms.
William Li, NIO's founder, chairman and CEO, said in response to a question during the communication that several companies are now talking to NIO about using its battery swap network, according to the live stream watched by CnEVPost.
However, they will need to develop vehicles to NIO's battery swap standard, which takes time, Li said.
It's worth noting that these statements are not materially different from previous comments made by NIO management, which Li also said at the communication that they were diplomatic.
Li last mentioned similar remarks two months ago, when he said in an April 1 media group interview during the China EV 100 Forum that NIO wants other companies to share and build battery swap infrastructure with it.
"I met with several company executives today and they asked me how we could work together, and we're open to that," he said on April 1.
NIO refers to its battery swap model as battery as a service (BaaS), an innovation that can be understood through the lens of cloud services, Li said at the time.
The cloud services around the world, whether they are offered by Microsoft, Google and Amazon in the US or Alibaba, Tencent and Huawei in China, they all have one thing in common -- the companies themselves are the primary users, he said.
Despite frequent rumors over the past two years, as of yet no other car company has said it will use NIO's battery swap network.
In addition to the NIO brand, another brand that will use these battery swap stations will be the company's sub-brand, codenamed ALPS, which is expected to start delivering vehicles next year.
NIO's current plants can support the production of vehicles under both NIO and ALPS brands, and no major Capex investment is required, Li said in a June 9 analyst call following the announcement of first-quarter earnings.
Current battery swap stations are sufficient for both brands to share, he said.
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NIO's battery swap network open to other brands, just like cloud service, says William Li
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From June 1-11, NIO sold 2,800 units and Tesla 26,000 units.
Li Auto (NASDAQ: LI) continued to flex its muscles, showing strong sales last week while its two local peers, NIO (NYSE: NIO) and XPeng (NYSE: XPEV), remained weak.
For the week of June 5 to June 11, Li Auto sold a record 8,400 units, the company said today on Weibo.
That's far more than other new car-making brands and more than the second, third and fourth places on the list combined, it said, adding that Li Auto had sold 11,900 units this month as of June 11.
Li Auto continues to rank in the top five luxury brands sold in the Chinese market and is the highest-ranked Chinese brand on the list, it said.
The company has maintained its focus on premium family customers and has made a strong showing in the segment with its L series models, it said.
With the company's all-electric model and the delivery of the Li L6 next year, Li Auto is confident it will surpass one of the German luxury brands BMW, Mercedes-Benz and Audi in total sales in 2024, it said.
Li Auto did not explain on what basis that weekly sales were tallied, but apparently, they were insurance registrations. The company had suspended sharing those numbers in May, but has later resumed sharing them.
All of the models Li Auto is currently selling are extended-range electric vehicles (EREVs), essentially plug-in hybrids, including the five-seat Li L7 and the six-seat Li L9 and Li L8.
The EREV maker guided a month ago for second-quarter deliveries of between 76,000 and 81,000 units, meaning June deliveries are expected to be between 22,042 and 27,042 units, considering it delivered 25,681 and 28,277 units in April and May, respectively.
Tesla (NASDAQ: TSLA) sold 16,400 units last week, putting the June 1-11 cumulative total at 26,000, according to Li Auto. In the previous week, May 29-June 4, Tesla's figure was 14,500 units.
NIO (NYSE: NIO) had 1,500 units last week and 2,800 units this month as of June 11. Its figure for the previous week was 1,700 units.
XPeng (NYSE: XPEV) was at 1,500 units last week and 2,200 units for the month as of June 11. XPeng's figure for the previous week was 2,100 units.
Zeekr was at 1,500 units last week and 2,400 units this month as of June 11. Its figure for the previous week was 2,100 units.
Leapmotor was 3,000 units last week and 4,400 units this month as of June 11. Its figure for the previous week was 3,400 units.
Neta was at 1,900 units last week and 2,800 units this month through June 11. Its figure for the previous week was 2,900 units.
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Wait times for the NIO ES7 have gone from 3-4 weeks to about 3 weeks, the EC7 from about 5 weeks to about 4 weeks and the ET7 from 3-4 weeks to about 3 weeks.
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NIO's (NYSE: NIO) three 7-series models have slightly shorter wait times in China, after the electric vehicle maker lowered prices on its entire lineup yesterday.
The latest wait time for the NIO ES7 SUV is about 3 weeks, slightly lower than the previous 3-4 weeks, the latest check of the NIO App by CnEVPost today shows.
NIO launched the ES7 on June 15, 2022, the company's second model based on the NT 2.0 platform after the ET7 sedan, and the first SUV on the second-generation platform. The first delivery of the NIO ES7 was on August 28, 2022.
The model's last wait time change was on June 5, when it went from about 3 weeks to 3-4 weeks.
The latest wait time for the NIO EC7 coupe SUV is about 4 weeks, compared to about 5 weeks previously.
The EC7 was launched on NIO Day 2022, December 24, 2022, with the first delivery on April 28 of this year.
The model's last wait time change was on June 1, when it went from 5-7 weeks to about 5 weeks.
The latest wait time for the NIO ET7 is around 3 weeks, down from the previous 3-4 weeks.
On the first day of the Shanghai auto show on April 18, NIO launched the 2023 ET7 at the same price as the previous version. Deliveries of the new ET7 began on May 19.
The last change in ET7 waiting time was on June 5, when it went from about 3 weeks to 3-4 weeks.
Wait times for other NIO models remain unchanged today, with the expected delivery date for the new ES8 still showing June, the new ES6 at around 5 weeks and the ET5 at around 3 weeks.
NIO yesterday lowered the starting prices for all models by RMB 30,000 ($4,200) and made the previously free battery swap benefit a paid option.
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Data table: Latest wait times for NIO models after Jun 13 changes
(Screenshots on June 13.)
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The Nio ET5 with BaaS now costs less than the Tesla Model 3 RWD. And the recently launched ES6 NT2 is cheaper than all of its rivals.
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The NIO ET5 Touring offers more trunk space while improving the high driver's seat that the regular ET5 was complained about. The key now is the price.
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NIO (NYSE: NIO) will hold a launch event for the ET5 Touring starting at 19:00 Beijing time on June 15, and the model is already allowing visitors to experience it in its stores before then.
As of June 10, the ET5 Touring show cars are available at 248 NIO stores in 48 cities across China. In Shanghai, where NIO's global headquarters is located, the model is already available at 10 NIO Houses and 15 NIO Spaces.
I went to one of the NIO Houses in Shanghai's Pudong New Area on Sunday, June 11 at around 9 am to check out the model and left at around 10 am.
The store is located in a large shopping district and the office hour start time was 10:00 am. Even though I visited before then, the store staff allowed me to enter.
NIO is one of the strongest local car companies in terms of abilities to build beautiful models, and the ET5 Touring is clearly another well-designed one.
(Image credit: CnEVPost)
It's worth noting that photos of a car give a very different feeling than seeing it in person, and this applies to all models of all brands.
The gray ET5 Touring in the NIO House I visited has very natural body lines. In fact, a non-offensive exterior design is already the basis for a car that is acceptable to most people.
I don't want to discuss too much about its appearance, but you can get a general impression through the pictures in this article.
It should be noted that just a few years ago, for the average Chinese consumer, family cars consisted only of sedans and SUVs, and derivatives of sedans were not considered. You also hardly ever saw a gasoline-powered touring or shooting brake model on the streets of Shanghai.
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Geely's premium electric vehicle subsidiary Zeekr is the first of the local brands to try to tap into the sedan derivative market, announcing the all-electric Zeekr 001 shooting brake on April 15, 2021, with deliveries starting in October 2021.
The Zeekr 001 is Zeekr's first model, and it is a brave move to target an unproven market. The model delivered 11,337 units last December, bringing full-year 2022 deliveries to 71,941 vehicles.
The ET5 Touring, a derivative of the regular ET5 sedan, is equipped with the same powerful assisted driving hardware as NIO's other NT 2.0 platform-based models, including a roof-mounted LiDAR, and four NVIDIA Orin SoCs capable of delivering a total of more than 1,000 TOPS of performance.
One of the biggest attractions of the ET5 Touring compared to the regular ET5 is the larger trunk space. Such models give consumers the same driving experience as a sedan while gaining load capacity close to that of an SUV.
(Image credit: CnEVPost)
The ET5 Touring is not yet available for test drives, and NIO will officially launch the model on June 15, with test drives available on that day.
For the regular ET5, many owners have complained about the high seating position in the driver's seat, which may be a deterrent for some potential customers to choose this model.
I got into the driver's seat of the regular ET5 at that NIO House and found that this issue was indeed apparent, especially when compared to my own Tesla Model 3 Long Rang, a 2020 purchase.
The regular ET5 feels very much like the driver is sitting in an SUV, even with the seat position cranked all the way down. For the Model 3, on the other hand, the appropriate seating position for me is with the seat height cranked to the middle gear.
NIO has obviously learned this lesson from the regular ET5, and the ET5 Touring driver's seat has a significantly lower seating position. The feeling of sitting in the ET5 Touring driver's seat is almost the same as when I drove my own Model 3.
(Image credit: CnEVPost)
The ET5 sedan seems to have been experiencing demand issues after China's purchase subsidies for new energy vehicles (NEVs) expired at the end of last year, and the price will be critical for the ET5 Touring to make the ET5 family shine again.
Earlier today, NIO announced an RMB 30,000 ($4,200) price cut for the entire new model lineup, effective immediately, but the previously free battery swap service several times a month has become a paid option.
Under the latest pricing system, the starting price of the ET5, including the battery, is reduced to RMB 298,000. If consumers choose to lease the battery using the BaaS (battery as a service) option, the starting price of the vehicle is RMB 228,000.
For the ET5 Touring, many expect that its starting price in China, including the battery, will likely be RMB 10,000 to 20,000 higher than the regular ET5.
In addition to targeting the new sedan derivative market in China, NIO also hopes to sell the ET5 Touring in Europe, where such models have a higher acceptance.
A few hours after the ET5 Touring's China launch, NIO will hold a European launch event on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time) to launch the ET5 Touring, as well as the EL6, known as the ES6 in China.
BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional
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(Image credit: CnEVPost)
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NIO has been discussing this adjustment internally for a long time, and as of 3 am today the NIO team was still working on it, William Li said.
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NIO (NYSE: NIO) today announced the largest price and benifit adjustment in its history in an attempt to boost sales. The company's helmsman responded to the move.
NIO has been discussing the adjustment internally for a long time, with input and suggestions from some of its customers, William Li, the electric vehicle company's founder, chairman and CEO, said in a reply to an article in the NIO App.
The company had so much to consider for this that the NIO team was still working on it as of 3 am today, he said.
Now is the most appropriate time to announce the change, although the company still has some things to think about and can't make everyone happy, Li said.
NIO lowered the starting prices for all models by RMB 30,000 yuan ($4,200) starting today and made the battery swap service, which was previously offered four or six times a month for free, a paid option.
Under the latest pricing system, NIO's cheapest model, the ET5 sedan, starts at RMB 298,000, and if consumers choose to lease the battery with the BaaS (battery as a service) option, the vehicle starts at RMB 228,000.
The new ES6, which only went on sale and began deliveries late last month, starts at RMB 338,000 under the new pricing system and RMB 268,000 under the BaaS model.
In fact, many NIO supporters in China have been calling for the adjustment on social media for a long time.
NIO initially offered owners unlimited free battery swap service and free home charging piles, and scaled back the entitlement to six free services per month and a free home charging pile a few years later.
On April 10, the company announced that effective June 1, consumers who purchase the NIO ET7, EC7, ES7, and ET5 will no longer receive a free home charger, and the free battery swap entitlement will be adjusted to four times per month.
Since the free battery swap service is directly tied to the sale of NIO vehicles, it discourages potential consumers in areas where the number of battery swap stations is small from taking an interest in NIO vehicles, as they may believe that the cost of their vehicle purchase includes the battery swap service that they will not be able to enjoy in the short term.
At the same time, the high price of NIO vehicles means that its owner base is more likely to have a fixed parking space than other brands, and for these people, charging at home is cheap, making the free battery swap service redundant.
In a June 9 analyst call following NIO's first-quarter earnings announcement, Li said the company was considering adjusting customer benefits, such as free battery swap service that some owners may not need, hinting at today's move.
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BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional
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