Deliveries of the ET5 Touring in China will begin tomorrow, and Nio management expects the model to enhance its competitiveness in the premium family car market.
Nio (NYSE: NIO) will hold a launch event for the ET5 Touring starting today at 19:00 Beijing time (7:00 am US Eastern time), and its official website is showing a countdown.
As of press time, the launch of the Nio ET5 Touring in China, themed "Journey Ahead," has 7 hours and 43 minutes to go. The delivery of the model in China will officially start tomorrow.
Nio's English website is also showing a countdown to the European launch event with the theme "Inspired By Life", which will start in 13 hours and 43 minutes.
The ET5 Touring will be the first Nio model to be launched at a global launch event. The company will hold the European launch of the model on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time).
The ET5 Touring launch will be an event across six countries, Nio announced on June 10, when a post on the Nio App hinted that the model would be released to consumers in China, Norway, Sweden, Denmark, the Netherlands, and Germany.
Below is a video posted today by the Nio App of the ET5 Touring on a track drive in Germany.
Nio began accepting pre-orders for the ET5 Touring in China on June 10, although the model's specifications and price have not yet been announced.
For the ET5 Touring, many expect that its starting price in China, including the battery, will likely be 10,000 yuan ($1,400) to 20,000 yuan higher than that of the regular ET5.
Nio lowered the starting prices for all models by RMB 30,000 on June 12 and made the battery swap service, which was previously free several times a month, a paid option.
Under the latest pricing system, the starting price for the regular ET5, including the battery, is reduced to RMB 298,000. If consumers choose to lease the battery using the BaaS (battery as a service) program, then the starting price of the vehicle is RMB 228,000.
On March 9, the Chinese Ministry of Industry and Information Technology (MIIT) announced the latest batch of models that will be allowed to be sold in China, and the Nio ET5 Touring was included in the list.
The model has a length, width and height of 4,790 mm, 1,960 mm and 1,499 mm respectively, and a wheelbase of 2,888 mm, in line with the ET5 sedan, according to the filing information.
It is equipped with dual motors produced by Nio's electric drive systems division in Hefei, Anhui province, with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.
As with several other Nio models based on the NT 2.0 platform, the Nio ET5 Touring supports the option of a retractable electric tow hook, which can tow a maximum of 1,400 kg of caravan weight.
The model's battery supplier includes CALB in addition to CATL, as do the new EC6, EC7, new ES8 and new ES6.
The ET5 Touring can meet the diverse use scenarios of individual and family users, greatly enhancing the company's competitiveness in the high-end family car market, William Li, founder, chairman and CEO of Nio, said during a June 9 analyst call following the company's first-quarter earnings announcement.
($1 = RMB 7.1735)
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