Phate Zhang

"We are confident that it will be the No. 1 seller of all passenger cars priced at RMB 500,000 ($70,160) or more, regardless of energy form and regardless of body form," Li Auto said.

The ET5 Touring vehicles currently being delivered by Nio are produced in advance, and consumers who customize the model will have to wait about 3-4 weeks.

While touring cars might be relatively niche compared to sedans, some comparable offerings in the market can still deliver monthly sales of about 10,000 units on a consistent basis, Tim Hsiao's team said.

With Nio's broad price cuts and the rapid rollout of new NT 2.0 models, it could see a considerabe sales rebound in the second half of the year, according to Edison Yu's team.

Nio has produced some ET5 Touring vehicles based on designer-recommended configurations, and deliveries of these non-customized vehicles will officially begin on June 16.

The ET5 Touring and EL6 are priced higher in Europe than in China due to factors including transportation costs, local taxes and operating costs.

Pricing for the ET5 Touring is identical to the regular ET5, with a starting price in China of RMB 298,000 including the battery, and deliveries will begin on June 16.

Nio officially launched the ET5 Touring today, and this article is a live update of the main content of the event.

Xpeng will enter an accelerating positive feedback loop starting in the third quarter of this year and will see faster growth from the third quarter of next year to the end of 2025, Xpeng's CEO said.

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.