Automaker Nio receives approximately 100,000 potential cancellable orders for ES8, according to Deutsche Bank's report
In a significant move for the electric vehicle industry, NIO, the Chinese automaker, has seen a surge in its stock prices over the past four trading days, following the upcoming launch of the third generation of the ES8 SUV. The company's shares, traded in Hong Kong under the symbol 9866, rose by 7.74 percent, while NIO Inc (NYSE: NIO) experienced a rise in stock price in the US as well, closing up 8.17 percent at $7.02. This uptick in the market is largely attributed to the anticipated launch of the third-generation ES8 and an improved balance sheet for the company. NIO announced a $1 billion share offering last week, but the company's stock rebounded after a brief dip, indicating investor confidence in the automaker's prospects. Consumers can reserve the third-generation ES8 with a refundable RMB 5,000 deposit prior to its official launch. Pre-sales for the third-generation ES8 began in China on August 21, with a starting price of RMB 416,800 ($58,630) including a 100-kWh battery pack. The new ES8 has outperformed the flagship SUV L90 from NIO's sub-brand Onvo in pre-sales during the same period. UBS has upgraded its rating on NIO from neutral to buy, reflecting the positive sentiment surrounding the launch of the third-generation ES8. Deutsche Bank expects the final price of the third-generation ES8 to be reduced by RMB 7,000 to RMB 17,000 from the pre-sales price. Looking ahead, Nio aims to deliver 150,000 vehicles in the fourth quarter, averaging 50,000 monthly deliveries. Management has stated that the new ES8 would reach 10,000 units monthly production capacity in October and 15,000 units in December. The Onvo L90, another successful model from NIO, delivered 10,575 units in August, becoming the fastest model in NIO Inc's history to surpass the 10,000-unit delivery milestone. The company also reported a narrowed net loss in Q2 as expenses declined. The official launch of the third-generation ES8 will occur this Saturday at Nio Day 2025. With the promising pre-sales figures and investor confidence, the launch of the third-generation ES8 is set to be a pivotal moment for NIO and the electric vehicle industry.
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