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Electric & new energy vehicles
BusinessChina Business

China’s Nio unveils ET9 executive sedan, its most expensive EV yet, flexes tech muscle in luxury sector foray

  • ‘We are building a flagship executive sedan based on our leading technologies,’ co-founder and CEO William Li says at Nio Day annual event in Xian
  • Carmaker is aiming to compete in the luxury EV segment with the launch of the ET9, analyst says

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The ET9 will showcase ‘Nio’s excellence in driving technological innovations’, CEO says. Photo: Handout
Daniel Renin Shanghai
Chinese electric-vehicle (EV) maker Nio has unveiled a new pure electric model to take on hybrids by Mercedes-Benz and Porsche, in the latest sign of mainland China’s increasing heft in the development and manufacture of next-generation cars.
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The Shanghai-based carmaker said the ET9, an executive sedan with a host of cutting-edge technologies it has developed, including high-performance automotive chips and a unique suspension system, will be priced at about 800,000 yuan (US$112,151), and is expected to be delivered to customers in the first quarter of 2025.

“We are building a flagship executive sedan based on our leading technologies,” William Li, Nio’s co-founder and CEO, told about 10,000 participants at the Nio Day annual event in Xian, the capital of northwestern Shaanxi province, on Saturday.

“The ET9 will be the best model showcasing Nio’s excellence in driving technological innovations.”

Chinese carmakers are striving to move up the value chain, as they race ahead of global rivals in EV development and sales. For instance, in April, BYD, the world’s largest EV maker, unveiled its super luxury model, Yangwang U8, a sport-utility vehicle priced at 1.1 million yuan. The U8’s four wheel side motors allow the vehicle to make so-called tank turns and to “crab walk” sideways.
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The Panamera E-Hybrid and the Maybach plug-in hybrid S580e, models the ET9 is pitched against, start at 1.19 million yuan and more than 2 million yuan, respectively.

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