Nio Executive Teases Lower Price for Third-Generation ES8 Under BaaS Plan
Nio Inc (NYSE: NIO) is gearing up to launch its third-generation ES8 SUV, with executives hinting at a lower starting price under the Battery as a Service (BaaS) plan. The new ES8 is set to debut at a launch event in Chengdu, Sichuan, in just a few hours.
According to Nio, the latest ES8 model will be available in both six-seat and seven-seat configurations, boasting larger dimensions compared to its predecessor. The SUV measures 5,280 mm in length, 2,010 mm in width, and 1,800 mm in height, with a wheelbase of 3,250 mm, solidifying its status as a large SUV.
Built on a 900-volt high-voltage platform with a maximum voltage of 925 volts, the new ES8 features a 100-kWh battery pack that supports fast charging and a quick 3-minute battery swap for a fully charged pack.
One of the most anticipated aspects of the new ES8 is its pricing under the BaaS model. Nio’s head of user operations, Yang Bo, hinted on Weibo that the starting price for the third-generation ES8 will be less than RMB 400,000 ($55,730), a decrease from its predecessor’s starting price of RMB 428,000 under the BaaS plan.
The older ES8 models with a 100-kWh battery pack previously started at RMB 556,000, including the battery pack, with a BaaS starting price of RMB 428,000. Nio recently reduced the optional cost of the 100-kWh long-range battery pack by RMB 20,000, signaling a price reduction for all long-range versions of its models.
With the imminent launch of the new ES8, Nio’s move to lower battery pack prices suggests that the upcoming model will offer a more affordable option for customers. The company plans to officially unveil the third-generation ES8 at Nio Day 2025 next month.
Stay tuned for more updates on Nio’s latest offerings and innovations in the electric vehicle market.
($1 = RMB 7.1770)
