Nio unveils flagship EV to compete with Maybach, Panamera

Chinese car manufacturer announces premium EV launch, hoping to enter the global market
An electric car is stationed at a charging station. — Unsplash
An electric car is stationed at a charging station. — Unsplash

Nio, a Chinese car manufacturer specialising in electric vehicles (EVs), unveiled its new flagship car on Saturday, promising to deliver its first batch in the first quarter of 2025.

The company looks to gain ground in the global market with the release of ET9, set to compete with the likes of Mercedes Benz’s Maybach and Porche’s Panamera, two global EV giants, Reuters reported.

The ET9, which will be priced at around 800,000 yuan ($112,151), is an executive sedan equipped with several premium EV specs, including Nio’s autonomous driving chip, a fully active integrated hydraulic suspension system, and a 120kWh battery pack — stated the founder and CEO of the Shanghai-based company, William Li, at the company’s annual event.

Nio has also previously announced its decision to add 1,000 more battery-swap stations across China in 2024. With this move, coupled with the launch of ET9, the company is bolstering its presence in the local and global EV market, which will help increase its overall profits in the long run.

In the past, Nio also raised $2.2 billion, this same month — funded by Abu Dhabi Investment Authority.