Nio Launches ES9 SUV From 390,000 Yuan as China Premium EV Price War Intensifies

7 articles · Updated · CNBC · May 28

Nio’s ES9 starts at 390,000 yuan with battery subscription, and deliveries of the new flagship SUV begin Thursday after the stock jumped 9% Wednesday.
The launch pushes Nio deeper into China’s premium EV fight, where it is pairing advanced driver-assist, safety systems and luxury cabin features with a far lower entry price than its 800,000-yuan ET9 sedan.
That pricing reflects a broader squeeze in China’s market: Xiaomi entered at 215,900 yuan, while Audi’s China-focused E7X SUV starts at 289,800 yuan and is due for full launch Friday.
Nio delivered 83,465 vehicles in the first quarter—nearly double a year earlier but down 33% from the fourth quarter—as lower-priced Onvo and Firefly models help it chase demand in a sluggish consumer market.
Competition remains intense at the top end, with Tesla’s Model Y the best-selling SUV in China last month and newly cleared to roll out driver-assist features after Beijing approval.

As Chinese EVs expand globally, will the ES9's mix of high-tech and low price set a new standard for legacy automakers?

With rivals losing money in the price war, can Nio's new SUV strategy deliver both sales volume and long-term profitability?