The NIO ET7 will initially be delivered at a rate of a few hundred units per month, with capacity ramp-up taking 2-3 months.
Formal reservations for NIO's flagship sedan ET7 are expected to open in mid-January next year, with deliveries expected to begin by the end of the first quarter, said the model's project manager.
The ET7 was presented at NIO House in Shenzhen's Ping An Financial Center on November 19, marking the model's first appearance in the Greater Bay Area.
On November 20, the team in charge of the ET7 project met with interested users at the NIO House. The Chinese automotive website xchuxing.com published the main information of the event.
When NIO announced the ET7 on January 9 this year, it announced that the model was available for pre-order immediately, but it is worth noting that this deposit is also known as a "small deposit", as is customary in the Chinese auto industry.
In China, car companies usually charge a "small deposit" of less than RMB 10,000, which is generally refundable at any time, and NIO's "small deposit" for the ET7 is RMB 5,000, which can be used as RMB 10,000 when the consumer pays for the car.
After the vehicle is allowed to be officially reserved, the deposit charged by the car company is called the "big deposit". This is usually more than RMB 10,000, is non-refundable and will essentially become the final order.
The NIO ET7 will initially be delivered at a rate of a few hundred units per month, with capacity ramping up taking 2-3 months, the NIO team said, adding that the model's capacity is not something to worry about, according to xchuxing.com.
With new financing and the support of autonomous driving experts including Ren Shaoqing and Bai Jian, NIO is also confident that its assisted driving technology will be unleashed as soon as the timing is right, according to information shared by xchuxing.com.
In a conference call following the release of its third-quarter earnings earlier this month, William Li, founder, chairman, and CEO of NIO, said the company plans to have ET7 available in showrooms around the Chinese New Year, which arrives on February 1.
The release of the ET7's assisted driving capability will be a long-term process, and NIO will consider a number of factors, including regulations, safety, and reliability, and will not deliberately make a demonstration of autonomous driving, Li said.
NIO's 150 kWh battery is moving forward on schedule, with availability scheduled for the fourth quarter of next year, and is still on track, Li said.
Development of NIO's NAD hardware and software systems is well underway, and in addition to the ET7, development of two other new models based on the NT2.0 platform is on schedule, with deliveries to customers expected to begin in the second half of next year, Li said.