Li Bin: R&D of Model 3/Y with battery swapping function is underway, and it will be 10% cheaper.

On June 16th, Li Bin held a face-to-face communication meeting with users in response to the release of the NIO ES7 and the upgrade version 866 on the evening of June 15th. We have summarized some key points from this release:

  • Li Bin said that he loves the driving experience of the ET5, but there are also some small defects. Firstly, due to the sacrifice of the appearance of the vehicle, the rear window of the second row cannot be lowered to the bottom. Secondly, the design of the central armrest of the second row is too square. The actual effect will be unveiled in the third quarter.

  • If the ET5 cannot be delivered this year and there is no new energy subsidy next year, NIO may come up with a fallback plan.

  • The AR glasses have two modes, car-mode and phone-mode, but unfortunately, the 866 cannot achieve direct insertion and connection.

  • The next generation of ES8 may add electric seats in the second row.

  • The function of pre-identifying parking spaces is under development without activating the automatic parking function.

  • The 866 cannot be equipped with an electric trailer hook, electric suction door, and LIDAR.

  • More mass-produced cars are under development and will be priced at around 200,000 yuan. They will be the battery-swappable versions of the Model 3 and Y, with prices 10% cheaper and a production capacity of 500,000 units per year in the production factory.

The most critical information is the newly produced car. Therefore, friends who want to buy NIO can wait a little longer. Also, during the Q1 2022 earnings conference call, Li Bin mentioned that a new product called “Alps” with the code name NT 3.0 will be launched in 2024. This new product will be sold under a new brand, while the NIO brand will continue to focus on high-end series. The expected price will be between RMB 200,000 and RMB 300,000. Li Bin is very confident that after the launch, there will be a certain pressure on delivery.

In the first half of this year, Li Bin said it was a very difficult time for NIO. Will NIO prepare to advance bravely in the future?

Source: NIO Official.

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email