William Li says ‘trend is irreversible’ as Chinese EV maker unveils 2 SUVs during annual ‘Nio Day’ event
- ‘Smart EVs will be increasingly well received by wealthy motorists,’ Nio co-founder and CEO says
- Carmaker launches the EC7 and ES8 SUVs
With the EC7, a sports utility vehicle (SUV), and the ES8, a full-size SUV, Nio aims to take on premium petrol cars made by German marques such as BMW and Mercedes-Benz.
The SUVs come fitted with Lidar sensors and Nvidia Orin chips, considered to be the best automobile chips in the world. The basic edition of the EC7, which can go as far as 490 kilometres on a single charge, is priced at 488,000 yuan (US$69,817). The entry-level ES8, with a driving range of 465km, is priced at 528,000 yuan.
“Smart EVs will be increasingly well received by wealthy motorists,” William Li, co-founder and CEO of the Shanghai-based carmaker, said during an online media briefing on Sunday. “The trend is irreversible.”
The launches come amid a slowing market. They also coincide with a growing preference for cheaper vehicles among Chinese motorists. Li, however, said that he hoped the mainland Chinese EV market – the world’s largest – would regain growth momentum in May 2023, when Nio starts delivering the new models to customers.