Chinese electric vehicle (EV) manufacturer Nio has launched its latest luxury sedan, the ET9, aimed at competing with premium models like BMW’s 7 Series and Audi’s A8. Scheduled for delivery in March, the ET9 represents a bold move by Chinese automakers to challenge the dominance of foreign luxury brands in the world’s largest automotive market.
Priced at 800,000 yuan ($110,080) during its presale, the ET9 boasts advanced features, including a 120-kilowatt-hour (kWh) battery pack with an industry-leading energy density of 292kWh per kilogram, offering enhanced driving range. Additionally, it includes the world’s first fully active integrated hydraulic suspension system for superior ride comfort on uneven terrain. Final retail prices for the ET9 variants will be unveiled later this month.
William Li, CEO of Shanghai-based Nio, expressed confidence in the shift toward domestic brands. “Foreign car brands will continue to lose their market share [in China],” he said, citing the rapid advancements by local automakers in developing electric vehicles.
Foreign brands, once dominant in the Chinese market, now hold only 40% of the market, down from 63% in 2015, according to the China Passenger Car Association (CPCA). The rise of Chinese automakers like BYD and Geely, along with their focus on EVs, has outpaced traditional automakers such as Volkswagen and General Motors, whose transition to electric vehicles has lagged.
The ET9 is Nio’s most expensive model to date, and the company aims to sell 1,000 units monthly. BMW’s 7 Series, which starts at 919,900 yuan, and Audi’s A8, starting at 789,800 yuan, face direct competition as EVs continue to gain traction. Since July, EVs have accounted for more than half of new car sales in China each month.
Luxury car sales, including electric and petroleum-powered vehicles, made up 13.6% of the total market last year, or 3.47 million units. Among these, 27%—approximately 936,900 vehicles—were battery-powered, with the majority of the remaining cars produced by foreign automakers.
Eric Han, senior manager at Shanghai-based advisory firm Suolei, noted that Nio’s foray into the luxury segment signals an aggressive push by Chinese automakers. “Other Chinese companies are likely to follow suit with high-end models to attract buyers away from BMW and Mercedes,” Han said. However, the long-term success of these vehicles will depend on their ability to match consumer expectations for performance and style.
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