Nio Inc (NIO)

[DiscoverGold]

NIO Inc. to hold ES6 launch event Wednesday
By: Investing.com | May 23, 2023

Chinese electric automaker NIO Inc. (NYSE:NIO) announced Tuesday that it expects to host the all-new ES6 launch event in China on Wednesday, May 24, 2023.

The event will start at 7:00 AM U.S. Eastern Time and the live video webcast will be accessible on multiple platforms in Mandarin Chinese, including nio.cn and NIO app.

The ES6 and an ET7 sedan will be linchpins for Nio’s Electric Vehicle (EV) line for the next year. The cars are said to include a new entertainment system and augmented reality glasses.

NIO announced on May 16 that the new ES6 will be officially launched on May 24, test drives will be available on the same day and deliveries will begin on May 25. NIO stores currently have the new ES6 show cars on display, and individuals interested in the model can visit NIO Houses for a closer look, according to NIO.

This particular model holds the distinction of being NIO's fastest in terms of the time taken from its official launch to actual delivery. Other local competitors in the Chinese EV market, such as Li Auto (NASDAQ:LI), have demonstrated that efficient delivery is crucial for success in this highly competitive sector.

NIO originally introduced the first-generation ES6 in December 2018, and deliveries of the model began in China in June 2019. From 2019 to 2021, NIO delivered 155,722 vehicles, of which the ES6 contributed 80,852, or 52%.

Rival Chinese electric automaker, XPeng (NYSE:XPEV) is set to announce its financial results for the first quarter on May 24, ahead of the opening of the US markets. The earnings call is scheduled to commence at 8:00 pm Beijing time on the same day.

Shares of NIO are up 0.26% in mid-day trading on Tuesday.

Read Full Story »»»

DiscoverGold