(Correction: A previous version mistakenly wrote 2022 as 2021.)

CICC expects 70,000 units of NIO ET7 to be delivered next year-CnEVPost

(Source: CnEVPost)

A month ago there were rumors that NIO has a delivery target of 50,000 units for its flagship sedan ET7 in 2022, which, in analysts' eyes, is conservative.

The ET7 is expected to contribute 70,000 units to NIO's sales next year, bringing the company's total deliveries to 170,000 units for the year, China International Capital Corporation (CICC), China's largest investment bank, said in a research note released Tuesday.

CICC raised its sales forecast for NIO in 2021 by 5 percent to 98,000 units.

If that forecast comes true, it means NIO will deliver an average of 5,830 ET7 units per month next year, which is expected to make the model NIO's mainstay.

For comparison, NIO delivered a record 8,083 vehicles in June, including 1,498 ES8s, 3,755 ES6s, and 2,830 EC6s.

Last month, meeting minutes purportedly from NIO motor component supplier Zhejiang Founder Motor, said the NIO ET7 has a sales target of 50,000 units in 2022.

"The NIO ET7 will enter the market in the first quarter of next year and we will start supplying it two months earlier. The ET7 is targeting 50,000 units next year and motor demand is expected to be 100,000 units," the minutes, dated June 4, show.

NIO unveiled the flagship sedan at NIO Day 2020 on Jan. 9, and it continues the high-performance character of the company's models.

The ET7 is powered by a 180 kW permanent magnet motor, and a 300 kW induction motor with a maximum power of 480 kW.

It has a peak torque of 850 N/m and accelerates from 0-100 100 km in just 3.9 seconds.

The pre-subsidy price of NIO ET7 is RMB 448,000 ($70,100) - 526,000. If users choose NIO's battery rental option BaaS, the pre-subsidy price drops to RMB 378,000-398,000 with a monthly battery rental of RMB 980-1,480.

CICC is optimistic about the car's prospects, saying in a report early last month that the NIO ET7 will remain the most intelligently hardware-equipped model in the global automotive market when it is delivered in the first quarter of 2022.

"We believe that with the hardware configuration and the company's full-stack R&D capabilities, NIO is expected to reach industry leadership in autonomous driving," CICC said in the previous note.

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