NIO, the renowned Chinese electric vehicle manufacturer, has commenced the delivery of its highly anticipated ET5 Touring model. The official launch of the vehicle took place in both China and Europe, marking a significant milestone for the company.
On June 16, NIO announced that the first batch of ET5 Touring vehicles had been handed over to owners in several cities across China. The company shared images of the deliveries taking place in prominent locations such as Xiamen, Suzhou, Chengdu, and Guangzhou. However, NIO did not disclose the exact number of ET5 Touring units delivered on that day.
The ET5 Touring, introduced just a day before the deliveries began, boasts the same pricing structure as the regular ET5 model. The starting price for the 75-kWh battery pack variant, including the battery, is set at RMB 298,000 ($41,860), while the 100-kWh version starts at RMB 356,000.
Notably, Chinese customers who opt for the BaaS (battery as a service) program will enjoy lower prices for both versions. Under this service, the ET5 Touring can be purchased starting from RMB 228,000, with additional monthly battery rental costs of RMB 980 and RMB 1,680 for the 75-kWh and 100-kWh variants, respectively.
It is important to mention that the ET5 Touring vehicles delivered on June 16 were not customized but instead manufactured by NIO in advance, adhering to designer-recommended configurations to enable swift delivery to early customers. Consumers who have chosen to customize their ET5 Touring will likely receive their vehicles within approximately 3-4 weeks after finalizing their orders, as indicated by the information available on the model’s configurator in the NIO App.
This delivery approach mirrors NIO’s strategy with the recent launch of the new ES6 model on May 24. On that occasion, the company promptly initiated deliveries of the SUV immediately following its unveiling.
The pricing of the ET5 Touring model came as a surprise, as it was previously expected to be priced RMB 10,000 to 20,000 higher than the regular ET5. “Pricing of ET5 Touring is more competitive than we thought—on par with the incumbent ET5 sedan at RMB 298k+,” noted Tim Hsiao’s team, an analyst at Morgan Stanley, in a research note sent to investors on the day of the launch.
Deutsche Bank’s Edison Yu’s team also expressed optimism in their research note to investors, suggesting that NIO’s recent substantial price reduction and the swift introduction of the new NT 2.0 model could lead to a significant rebound in sales during the latter half of the year. They speculated that this trend may set the stage for NIO to achieve monthly sales volumes of 20,000 units.
