What came about
Shares of Chinese language electric-car maker NIO (NYSE:NIO) opened sharply higher on Monday. The firm unveiled a brand fresh electric luxurious sedan, a longer-range battery, and other promising technologies at its annual “NIO Day” match on Saturday.
As of 9: 45 a.m. EST, NIO’s American depositary shares had been up about 7.5% from Friday’s closing designate.
NIO showed off the production version of its fresh ET7 electric luxurious sedan on Saturday. The ET7, a graceful sedan with a claimed range of over 1,000 kilometers (620 miles) in top orderly, is predicted to plod on sale in about a year at a starting designate of 448,000 Chinese language yuan (about $69,100). Adore other NIOs, the ET7 would possibly be available at a decrease designate (378,000 yuan, or about $58,300) if the patron opts for the firm’s battery-subscription program.
CEO William Bin Li presented NIO’s fresh ET7 luxurious sedan at an match in Chengdu on Saturday. Image source: NIO.
NIO said that the ET7 accommodates a slew of hardware sensors — 33 in all, including a lidar sensor — intended to present a take to fully self ample operation as soon as the draw is made available. Or now not it’s miles a twin-motor all-wheel-power make with a Tesla-treasure claimed 0-100 kilometers per hour (62 miles per hour) time of staunch 3.9 seconds.
As anticipated, NIO furthermore showed its fresh 150 kilowatt-hour (kWh) battery pack and the most well-liked variations of its sensor and on-board computing systems, all of which is able to be available on the ET7.
Auto investors rob advise: In a hint at NIO’s seemingly plans for the auto (and its commerce), the firm said that the ET7 is engineered to meet every Chinese language and European safety requirements.
We are going to be taught more when NIO reports its fourth-quarter and total-year 2020 earnings, doubtless in mid-February.
John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.”>