NIO Shares Surge After ES9 SUV Launch with Lower Price

NIO Shares Surge After ES9 Launch

Chinese electric-vehicle maker NIO's shares rose sharply after the launch of its new ES9 sports utility vehicle at a lower-than-expected price. Shares gained 8.4% in early Thursday trading to HK$45.24 ($5.77), outperforming the Hang Seng Index's 1.5% decline.

Pricing and Battery-Swapping Option

The ES9 starts at 390,000 yuan under the battery-swapping subscription plan, or 498,000 yuan with battery included. CCB International analyst Qu Ke noted the pricing is attractive, especially the battery-swapping option, which could help preserve resale values in the long run.

Sales Momentum and Future Plans

NIO aims to introduce more popular models to sustain sales momentum. The company reported a sharply narrowed first-quarter net loss of 496 million yuan. The ES8 model also shows resilient demand. NIO will launch a five-seat version of the ES8 in the second half of the year and targets three to five new models annually over the next few years.