The NIO ET5 Touring edition shares the same pricing as the sedan version. With the battery purchase plan, the prices are respectively set at ¥298,000 (75 kWh version) and ¥356,000 (100 kWh version). For the Battery-as-a-Service (BaaS) plan, the new vehicle is priced at ¥228,000, with a monthly fee of ¥980 for the 75 kWh version and ¥1,680 for the 100 kWh version.
With the recent launch and delivery of the new ES6, price and benefit adjustments for the entire lineup, and the introduction and delivery of the ET5 Touring, NIO has smoothly transitioned and opened up an upward sales trajectory, poised for an even more outstanding performance in the second half of the year. The ET5 Touring is NIO’s first truly global model, reflecting the company’s ambitious and determined globalization efforts from its research and development origins to its marketing strategies.
The ET5 Touring and ET5 each have unique features that will synergize to elevate NIO’s sales performance in the high-end pure electric market.
From January to May 2023, NIO commands a 55.8% market share in the pure electric market for high-end brands with an average transaction price above ¥300,000. For the same period, NIO’s market share in the same market segment for the Jiangsu, Zhejiang, and Shanghai regions reaches 64.5%. As for NIO owners who upgrade from BBA brands, 48% of them come from BBA, and for some second-generation models, the ratio is as high as 56%.
The ET5 continues to compete with BMW in the automobile consumer trendsetter city, Shanghai. From January to May 2023, the NIO ET5 shares the ¥300,000 and above midsize sedan market in Shanghai with Mercedes-Benz and BMW, accumulating a market share of 40%. The ET5 has outperformed the BMW 3 Series for four consecutive months in Shanghai, with the sales of the former being 1.7 times that of the latter. Despite not lowering its prices, NIO has seen a year-on-year sales growth of 15.8%, while BBA’s average transaction price continues to decline with only a slight year-on-year increase. NIO will soon cover 80% of BBA’s main sales markets with eight second-generation technology platform models, catering to a diverse range of user needs in the ¥300,000-¥500,000 price bracket.
NIO will be the first brand in the global automotive industry to complete the vertical platform switch between generations of intelligent electric technologies. The ET5 Touring is the seventh model launched on NIO’s second-generation technology platform, and with the upcoming completion of the platform switch, NIO will have created the most powerful high-end intelligent electric product lineup in the global automotive industry.As of June 15, NIO has deployed 1,492 battery swap stations (including 402 in China’s highways), 2,684 charging stations, 15,961 charging piles, and connected to 1,120,000+ third-party charging piles worldwide. As of June 15, NIO has cumulatively established 123 NIO Centers, 243 NIO Spaces, 305 NIO Service Centers, and 53 NIO Delivery Centers globally.
Differing from other automakers’ product exports, NIO innovatively carries out full-system exports, constantly improving its overseas infrastructure and service layout. Sales and service systems have been set up in Norway, Germany, the Netherlands, Denmark, and Sweden, excluding the Chinese market. Currently, NIO has delivered three models – EL7, ET7, and ET5 in the European market and built six NIO Centers, five NIO Spaces, 49 NIO Service Centers, 16 battery swap stations, eight charging stations, 26 charging piles, and connected to 400,000+ overseas third-party charging piles. NIO has established a global R&D layout, having research and production institutions in locations such as Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, San Jose, Munich, Oxford, Berlin, Budapest, and Singapore, with over 10,000 R&D personnel worldwide.
The ET5 Touring breaks the tradition of high premiums for station wagons in the Chinese market, ushering in the era of station wagons in China. In China, station wagons from brands like BBA have a 10%-20% premium over sedans. The ET5 Touring, produced in China, takes advantage of system efficiency and cost benefits from localized supply chains, maintaining relatively low premiums. As the first electric station wagon originating from China and heading globally, the ET5 Touring will initiate the era of station wagons in China, marking a milestone in the history of the global automotive industry.
ET5 and ET5 Touring will join forces to boost NIO’s sales growth in the second half of the year. The target audience for ET5 leans more towards individuals, while the ET5 Touring appeals more to small families (couples). Compared to the ET5, the ET5 Touring has a more comprehensive product quality, preserving its stylish appearance and performance handling, while offering a better overall experience and higher practicality than sedans in its class. Both models will synergize in communication and sales, helping NIO enter a strong product cycle and enhance its sales performance in the high-end pure electric market.
Other NIO models tend to cater to the needs of the Chinese market, while the ET5 Touring was initially developed in response to European market demands. Station wagons originate from Europe and represent the travel culture in the region. During the product development process, NIO recognized the compatibility between station wagons and the rising travel needs in the Chinese market, deciding to launch the model in China as well. As a global vehicle, the development of the ET5 Touring is based on user scenarios and market needs in both Europe and China. The development process of the ET5 Touring has inherited European station wagon user habits and travel culture while integrating the practical needs of small Chinese families. From a scenarized perspective, the ET5 Touring balances Stylish Urban Commuting with the sense of freedom and longing for Weekend Outdoor Escapes. This lifestyle and travel culture originate from Europe but are by no means exclusive to the European market. NIO aims to promote this way of life to more Chinese users through the development of the ET5 Touring.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.