Nio 
NIO shares rallied after the Chinese electric vehicle maker unveiled the ES9, a six-seat flagship SUV the company says is China’s largest electric SUV. The move gave investors a fresh catalyst in a market still wrestling with price pressure, demand questions and heavy competition. Nio’s Hong Kong shares jumped as much as 10% on Thursday after its US-listed shares rose 9%, suggesting the launch may have helped revive sentiment around the company’s product cycle.
The ES9 is built around size, comfort and premium positioning. At 5.4 meters long, the SUV offers fully reclining seats, a spacious interior that Nio demonstrated by having 2.3 meter-tall basketball star Yao Ming sit inside comfortably, up to 620 kilometers, or 385 miles, of range on a full charge, a 48-inch display console and a 47-speaker sound system. The vehicle will start at 498,000 yuan, or $73,430, which is 30,000 yuan below its pre-sale price, a pricing move Morgan Stanley analysts said should help convert pre-orders into firm purchases.
Morgan Stanley analysts including Tim Hsiao said ES9 order momentum, combined with a demand lift for the ES8 from rising store traffic, could become meaningful catalysts for the shares to push back against investor pessimism toward the auto market. The launch also lands as Chinese automakers chase larger models, which can bring higher profit margins, while reduced subsidies for cheaper EVs may give consumers more incentive to move into bigger vehicles. CEO William Li said Nio is making big cars for survival and customer demand, while keeping the company’s focus on China, where he sees under-served markets that still have room for EV growth even as rivals such as Chery Automobile and BYD accelerate global expansion plans.
