NIO POP participates after the release of one of the most affordable SUVs so far

The shares of the Chinese electric car manufacturer NIO increased after the company revealed one of its most affordable prices so far, confirming the fierce price war in the local market.

New The shares listed in the United States He gathered, climb 9.27 % to close at $ 5.54 on Thursday. in Hong KongThe shares increased by up to 10 % in a trade on Friday morning.

The company is late on Thursday The latest ES8 SUVs unveiledWith a price of 308,800 yuan ($ 43,000) under the battery subscription plan. The program reduces pre -costs, while allowing customers to switch or upgrade batteries through monthly fees. Delivers are scheduled to start in late September.

“The new generation of ES8 is priced at very competitive levels with some attractive features,” Vincent Sun, the stockpile’s stock analyst, told CNBC.

“We believe that the stock increase is due to the market package on new strong orders for the model (along with the onvo L90 that was launched earlier).”

NIO has historically targeted the high -end market, but it has struggled as other companies have launched vehicles that offer similar features at lower prices. To expand its arrival, the TetCent car manufacturer has launched two cheaper brands: ONVO, which targets the comprehensive market, Firefly, and targeting young urban buyers.

ES8 prices make one of the most distinctive SUVs, which usually cost between 338,000 yuan and 768,000 yuan.

However, New et5t since It holds the title of the most budget NIO model, starting from 298,000 yuan.

This ES8 show comes at a time when the China electric vehicle sector faces pressure. NIO and Ev Li Auto and Byd A. Car shipments of their cars With 21,017 units in July, from 24,925 units in June, while competitors such as Xpeng, Xiaomi, Leapmotor and Aito reported.

Intensive competition at home, high definitions on exports and organizational pressure in the markets such as the European Union EV, the Chinese EV, including NIO, pushed them to accelerate them Global expansion plans.

NIO announced on Monday that he would do so Expanding three new markets Between 2025 and 2026, including Singapore-its first entry into Southeast Asia-where the right-wing leadership model will appear for the first time under the Firefly brand.