Nio unveiled its third-generation ES8 electric SUV on Thursday, featuring a lower starting price, larger dimensions, and upgraded technology, as the Chinese automaker seeks to broaden its appeal in the country’s competitive EV market.
Pre-sale prices for the large SUV start at RMB 416,800 ($58,050) with a 100-kWh battery, representing a 25% reduction compared to the previous generation.
Under the company’s Battery as a Service (BaaS) scheme, the SUV starts at RMB 308,800, which Nio said is “even lower than the starting price of RMB 339,000 for Tesla’s Model Y L six-seat SUV in China.”
The new ES8 has been enlarged to 5,280 mm in length, 2,010 mm in width, and 1,800 mm in height, with a 3,250 mm wheelbase, marking an upgrade from a mid-to-large to a large SUV. It is built on a 900-volt high-voltage platform and offers a CLTC range of 635 kilometers with the standard 100-kWh battery. A future 120-kWh battery pack will support faster 5C charging.
The SUV incorporates Nio’s latest autonomous driving technology, including the Shenji NX9031 chip, three LiDAR sensors, and a dual-motor all-wheel drive system delivering 707 horsepower. Nio said the ES8 can accelerate from 0 to 100 km/h in 3.97 seconds, the fastest in its class.
The third-generation model also introduces a large front trunk, or frunk, and a redesigned exterior and interior, highlighting luxury and advanced features. Early adopters paying a RMB 5,000 deposit can deduct RMB 10,000 from the final purchase price.
