Chinese automaker Nio secures approximately 100,000 buyers willing to cancel their ES8 orders, according to Deutsche Bank's analysis.
Nio Inc, the Chinese electric vehicle manufacturer, has seen a surge in success with its latest offering, the third-generation ES8 SUV. The company's shares in both Hong Kong and New York have shown significant growth, reflecting the market's enthusiasm for the new model.
Nio Inc (HKG: 9866) reported a narrowed net loss in Q2 as expenses declined, and the company's financial outlook seems promising. The third-generation ES8 has already started shipping to Chinese stores, following the flagship SUV L90 from Nio's sub-brand Onvo, which delivered 10,575 units in August, setting a new record as the fastest model in Nio's history to surpass the 10,000-unit delivery milestone.
Pre-sales of 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. Consumers can reserve the third-generation ES8 with a refundable RMB 5,000 deposit.
The official launch of the third-generation ES8 will occur this Saturday at Nio Day 2025, where the final pricing will be announced. According to Deutsche Bank analyst Wang Bin's team, they expect the final price to be reduced by RMB 7,000 to RMB 17,000 from the pre-sales price.
The third-generation ES8 has garnered a significant amount of interest, with Citigroup stating in a research note today that there are around 100,000 cancellable orders for the new Nio model ES8. UBS has also upgraded its rating on Nio from neutral to buy, further indicating the market's confidence in the company.
Nio Inc aims to deliver 150,000 vehicles in the fourth quarter, averaging 50,000 monthly deliveries. The company recently announced a $1 billion share offering, which could help fund its ambitious growth plans.
The success of the third-generation ES8 is a testament to Nio's commitment to innovation and quality, and it is exciting to see what the future holds for this dynamic company. As the electric vehicle market continues to grow, Nio is well-positioned to capitalise on the opportunities ahead.
