Nio

Nio's first phone model will be released next year and consumers will be able to get their hands on it by the end of next year, according to a well-known local automotive blogger.

At press time, Nio was up 3.33 percent in Hong Kong to a two-month high, while the Hang Seng Index was down 2.51 percent.

The launch of Nio's new products based on the NT 2.0 platform, especially the ET5, is a turning point that is expected to allow it to start gradually seeing scale effects.

Nio's NT 2.0 platform-based SUV ES7 started deliveries in August, while orders following the previous price hike started deliveries in the third quarter.

Nio opened up 15 percent to HK$165.6 in Hong Kong, a new high since August 16. The company gained 13.52 percent in the US overnight.

Nio ET5 has received an overwhelmingly positive initial reception, while sales of older models -- ES8, ES6, EC6 -- have not been significantly impacted by the new SUV ES7.

The Nio ET5 may have a higher performance version available in the future that may come with an electric rear wing, according to local media.

Nio aims to have more than 1,300 battery swap stations in China by the end of this year.

The models ahead of the Nio ET7 are all traditional internal combustion engine cars, dominated by models from German luxury brands BMW, Mercedes-Benz and Audi.

ET5 potentially obliterates competition in the mid-size premium luxury segment ruled for decades by BMW and others and more recently Tesla.