Beijing Auto Show: Nio unveils luxury car, 2024 ET 7, as China’s EV price war heats up
- Nio is accepting pre-orders for the standard version of its latest ET 7 executive car, priced at 428,000 yuan
- The upscale model launches as BYD, Tesla China and Xpeng have rushed to offer additional discounts on their vehicles
Chinese electric vehicle (EV) maker Nio on Thursday launched a new edition of its upscale smart car, Nio 2024 ET 7, hoping to lure high-end consumers amid an escalating price war among some of the country’s top players.
The Shanghai-based carmaker’s updated executive car features more powerful smart-driving capabilities, an enhanced digital cockpit, an extra-long driving range and more comfortable passenger seats, according to founder and CEO William Li Bin.
“Through our technological innovations, the ET 7 executive car has elevated the driving and seating experience to the next level,” Li said at a launch event at the Beijing Automotive Exhibition, which began Thursday and runs through May 4.
The standard version of the new model sells for 428,000 yuan (US$59,400). Nio is currently accepting pre-orders for the vehicle. Delivery starts on April 30 in China.
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Li said shipments of the original ET 7, which began in late March 2022, have reached nearly 30,000, making it the top-selling all-electric car in China priced above 400,000 yuan.
