Chinese electric vehicle maker Nio has rolled out a seven-year, low-interest financing plan for car buyers in China, joining a growing list of automakers using extended credit terms to support demand amid a seasonal market slowdown and reduced policy support.
The financing programme, announced on Sunday, applies to selected lower-priced models under the Nio main brand as well as its sub-brands Onvo and Firefly, and is available for purchases made this month. Under the scheme, buyers are required to make a minimum down payment of 20%, with an annualised fee rate of 0.49%.
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For Nio’s mid-range ET5, ET5 Touring, ES6 and EC6 models — collectively referred to by the company as its “5566” lineup — down payments start from around 38,000 yuan ($5,470), with monthly instalments as low as 1,872 yuan and interest costs from about 62 yuan per month. The ET5 and ET5 Touring are Nio’s most affordable models, each priced from 298,000 yuan including the battery pack, while the ES6 and EC6 start from 338,000 yuan and 358,000 yuan, respectively.
Customers opting for Nio’s Battery-as-a-Service (BaaS) programme can reduce the vehicle purchase price by 108,000 yuan, although this comes with an ongoing monthly battery rental fee. Buyers of the four eligible Nio models completing purchases by Feb. 28 will also receive additional incentives, including five years of complimentary Navigate on Pilot Plus driver-assistance services and 48 free battery swap sessions.
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The financing offer also extends to Onvo’s L60 and L90 models, with buyers receiving five years of free Navigation on Autopilot services if they complete purchases during the promotional period.
The move comes as China’s auto market enters its traditional early-year lull, a slowdown that has been compounded in 2026 by the scaling back of stimulus measures, including tax breaks and trade-in subsidies for new energy vehicles. Rather than cutting sticker prices — a practice increasingly discouraged by regulators — automakers are turning to financial incentives to stimulate demand.
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Tesla was the first major automaker to introduce a seven-year low-interest financing plan in China this year, launching its offer on Jan. 6. It was subsequently followed by a wave of domestic brands, including Xiaomi, Li Auto, Xpeng, Geely Galaxy and Great Wall Motor’s Tank brand.
Chinese authorities have repeatedly stressed the need to lower financial barriers for vehicle purchases and expand consumer credit support, as the country seeks to stabilise auto demand while managing a transition away from heavy direct subsidies.
Nio and its domestic peers are expected to begin releasing January delivery figures later on Sunday, providing the first indication of how the new round of financing incentives may affect sales momentum.