Nio Inc is offering a five-year, zero-interest financing plan for car purchases in April, covering both the main Nio brand and the sub-brand Onvo. This offer comes after the previous incentive expired at the end of last month. Customers who pay a deposit to buy a Nio brand model between April 1 and April 30 can take advantage of this financing offer, as announced by the electric vehicle (EV) maker on its mobile app.
Under this financing plan, the minimum down payment required to buy a Nio vehicle is RMB 45,600 yuan ($6,280), which is approximately a 15 percent down payment. This could lead to interest savings ranging from RMB 23,612 yuan to RMB 44,341 yuan for buyers, according to Nio. The Nio brand currently offers nine models, including the ET9, ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring.
In April, the car purchase offers apply to models such as the ET5, ET5 Touring, ES6, EC6, ET7, EC7, and ES8, excluding the ES7 and ET9. The ET9 was officially launched on Nio Day 2024 and deliveries began at the end of last month. Along with the five-year, zero-interest financing, Nio is also providing additional benefits for customers in April, including 48 free battery swaps, RMB 10,000 for optional features, and a 5-year free NOP+ (Navigate on Pilot Plus) subscription worth RMB 22,800.
Onvo, the sub-brand of Nio, is also offering the same five-year, zero-interest financing plan for customers who purchase a model before April 30, but with a minimum down payment of 30 percent. In February, Onvo offered a three-year zero percent interest financing plan, which was upgraded to a five-year zero percent interest financing plan in March.
Nio Inc is expected to report its March deliveries later today. Stay tuned for updates on the company’s performance in the EV market. ($1 = RMB 7.265)
As Nio continues to introduce new models and expand its offerings, the company is set to launch a highly anticipated model in the fourth quarter under the Nio brand. Additionally, Onvo will begin deliveries of a new model in the fourth quarter, potentially named the L80. This signals Nio’s commitment to innovation and growth in the competitive EV industry.
