Shares of Nio listed in Hong Kong continued to climb, rising more than 13% to HK$51.75, the highest level since October 2024, as investors responded positively to the launch of the company’s third-generation ES8 sport utility vehicle.
The stock has gained about 33% over three sessions since the new ES8 debuted on August 21, and is up nearly 90% since July, when Nio’s sub-brand Onvo introduced its flagship L90 SUV.
The new ES8, which entered pre-sales on August 21, comes with a standard 100-kWh battery pack and a starting price of RMB 416,800 ($58,190). That represents a reduction of RMB 139,200, or about 25%, compared with the previous 100-kWh version. Under the company’s Battery-as-a-Service rental scheme, the starting price is RMB 308,800, also lower than the previous equivalent.
Despite the reduced pricing, the third-generation ES8 is larger and incorporates more advanced features, including Nio’s proprietary Shenji NX9031 autonomous driving chip and additional LiDAR sensors. The company said the model has driven a surge in traffic to its stores, with extended customer visits well into the night.
“Real-world market feedback proves that the golden age of pure-electric three-row SUVs has arrived!” Nio founder, chairman, and CEO William Li said on Weibo.