Nio ET7 is introducing large premium vehicles in Europe. In addition, the automaker will launch a new brand in the region that will sell smaller, more mainstream vehicles.
BERLIN – Chinese electric company Nio ET7 new mainstream electric brand will launch in Europe a few months after it debuts in China in 2024, according to Nio president and co-founder Lihong Qin.
Nio announced the launch of the unnamed mass-market brand in 2021, comparing it to Volkswagen’s relationship with Audi and Toyota’s relationship with Lexus.
Qin told journalists at the launch of the Nio brand here on Friday that the brand will focus on smaller cars than Nio is currently rolling out in Europe.
The automaker will target European markets with high sales of mass-market vehicles, rather than Germany, where premium brands such as BMW, Mercedes-Benz, and Audi are strong. “Because of the market’s different penetration structure, it’s better to start with France, Italy, and Spain,” Qin advised.
Following its European market debut in Norway last year, Nio on Friday detailed its intentions for the introduction of its premium brand in Germany, Sweden, the Netherlands, and Denmark. According to Qin, the brand will debut in the UK, along with Switzerland, Austria, Belgium, and Luxembourg, in 2019.
All future vehicles introduced in Europe will be constructed on the company’s most recent NT2 platform, beginning with the ET7 big sedan. The ET7 will begin shipping this month, while the ET5 midsize car and EL7 large SUV will follow in March.
After Audi launched a complaint, claiming that Nio’s ES naming scheme for its SUVs sounded too close to its S-badged performance series, which likewise follows with a number, the EL7 was renamed from ES7.
With the ES8 big SUV on the first-generation Nio platform, Nio made its debut in Norway. According to Qin, the ES8 won’t be sold more widely in Europe until the model has been switched over to the NT2 platform the following year. The model’s name will also change to EL.
The battery swap network of Nio will be extended to all European markets, with 20 locations expected to open by the end of this year and 120 by the end of 2023. Three exchange stations are now visible in Germany and three in Norway on the Nio app.
In Norway, 95% of Nio car owners presently lease their batteries with the opportunity to upgrade to a higher size when more range is required. All Nio vehicles are designed to take standardised swappable batteries.
Nio will lease its vehicles in Germany and other markets, either for a set length of time or under a more flexible subscription model. Business leasing will be made available through partners like Leaseplan in the Netherlands.
Direct interactions between Nio and private consumers will take place online or over the Nio House network. In Berlin, close to the Schöneberger shopping area, Nio opened the first Nio House.
Nio began in Norway and has since expanded to other European countries, joining Chinese electric manufacturers BYD and Xpeng.
Other Chinese or Chinese owned manufacturers benefiting from the shift to electric include SAIC’s MG and Geely’s Lynk&Co, the latter of which is leveraging the subscription model to increase deliveries of its plug-in hybrid 01 compact SUV.
With sales of the all-electric Ora Funky Cat tiny car set to begin in Germany in the fourth quarter, Great Wall is also trying to expand into Europe. The Coffee 01 plug-in hybrid SUV will be unveiled by dealer group Emil Frey in Germany as part of the debut of Great Wall’s luxury brand Wey.
With 31,607 deliveries in the three months that ended in September, Nio reported its greatest ever quarter deliveries. China accounted for the majority of sales.
How much is a NIO ET7?
All ET7 models will offer dual-motor AWD and a combined output of 644 horsepower and 850 Nm (627 lb-ft), enabling a zero to 100 km/h (62 mph) sprint in 3.9 seconds. In China, the NIO ET7 has a starting price of 448,000 yuan ($71,000) before subsidies.
- Category : China
- Make/Model : NIO ET7
- Body Style : Sedan