Robin Zeng, founder, chairman and CEO of Chinese power battery giant CATL (SHE: 300750), and He Xiaopeng, chairman and CEO of electric vehicle (EV) maker Xpeng (NYSE: XPEV), both became ET9 owners, the latest to choose Nio's ( NYSE: NIO) executive flagship sedan.
Nio founder, chairman, and CEO William Li delivered an ET9 to Zeng today on the floor of the Shanghai auto show and introduced him to the model's features, the EV maker said on Weibo.
CATL is the world's largest maker of EV batteries, with a global share of 37.9 percent last year, according to South Korean market researcher SNE Research. Nio is one of CATL's biggest customers.
Zeng got a feel for the details of the ET9's cockpit design, saying the ET9 creates a path of innovation that sets it apart from traditional executive flagships, Nio said.
Separately, a video posted by Li on Weibo shows that Mr. He of Xpeng has also become an ET9 owner, despite not yet having taken delivery.
"Thanks to Xiaopeng for coming to the Nio booth to check the car as an ET9 owner and experience the Firefly," Li wrote on Weibo.
Xpeng and Nio are among the earliest new car-making forces in China, although the former is mainly targeting the mass market and the latter the premium market.
Li is the owner of the X9, the MPV (multi-purpose vehicle) that is Xpeng's most expensive model. Mr. He personally delivered an X9 to Li in May last year.
More prominent entrepreneurs opting for the ET9 is expected to help the Nio sedan gain acceptance among the affluent.
Launched at Nio Day 2024 on December 21, 2024, the ET9 starts at RMB 788,000 ($108,100) including the battery, making it Nio's most expensive model.
The sedan uses many of Nio's latest technologies, including the in-house Shenji NX9031 autonomous driving chip, and the SkyRide chassis.
Deliveries of the ET9 began at the end of March, and the first owner is Hongbo Fang, or Paul Fang, chairman and CEO of Chinese appliance giant Midea Group, based in Foshan, Guangdong province.
Earlier this month, Richard Liu, the billionaire founder of Chinese e-commerce giant JD.com, ordered an ET9.
At the ongoing 2025 Shanghai auto show, Nio showed several ET9s and demonstrated the capabilities of its chassis and suspension system by having the vehicle perform significant body shaking.
($1 = RMB 7.2895)
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