China’s Nio launches Flagship Chinese electric car maker Nio (NYSE:NIO) on Saturday unveiled flagship models equipped with domestic technology, including semiconductors, and said those technologies would help boost profits as intense price competition and slowing auto demand weigh on profitability. He said it would lead to a boost.

The ET9 full-size sedan, which belongs to the same class as Mercedes-Benz’s (ETR:MBGn) Maybach and Panamera series, is scheduled to be delivered in the first quarter of 2025 with an estimated price of 800,000 yuan (US$112,178). . Nio founder and CEO William Li said this at the company’s annual Nio Day event.

China's Nio launches Flagship

China’s Nio launches Flagship At an event in the northwestern Chinese city of Xi’an, Nio said the car will be equipped with self-driving semiconductors developed in-house by Nio, a 900-volt electric drive for fast charging, and large cylindrical battery cells. he said.

He also touted the chassis, which features soft suspension technology that Lee said is “a generation ahead of the Panamera.” Clearmotion, a US startup backed by Lee’s venture capital firm Nio Capital, will provide the technology.

Nio also announced plans to add 1,000 battery swap stations and double the number of public chargers in China in 2024, leveraging this technology and infrastructure to expand electric vehicle consumer demand. We are expanding the appeal of our products and increasing our profit margins as the market continues to strengthen. .

The company received $2.2 billion in new investment this month from Abu Dhabi-backed investment firm CYVN Holdings. This is one of the largest investments made by a Chinese electric vehicle company this year.