Nio Inc (NYSE: NIO) has seen a significant surge in its shares traded in Hong Kong following the debut of the third-generation ES8 SUV. Since the new ES8 was unveiled on August 21, Nio shares have soared by about 33 percent over three trading days in Hong Kong, reaching a new high since October 8, 2024.
The positive reception of the new ES8 has not only driven up Nio’s stock price but has also generated increased interest in the Onvo L90, a flagship SUV from Nio’s sub-brand Onvo. The launch of the L90 earlier in July had already sparked optimism among investors, leading to a 90 percent rise in Nio’s stock price in Hong Kong.
The third-generation ES8, equipped with a standard 100-kWh battery pack, comes with a starting price of RMB 416,800 during the pre-sales period, representing a 25.04 percent decrease compared to its predecessor. Additionally, under the BaaS (Battery as a Service) battery rental plan, the new ES8 is available at a starting price of RMB 308,800, further enhancing its affordability.
The updated ES8 boasts advanced features such as the Nio-developed Shenji NX9031 autonomous driving chip and two additional LiDARs, making it larger and more technologically advanced than the previous model. The aggressive pricing and enhanced features of the third-generation ES8 have attracted significant foot traffic to Nio stores, leading to a surge in brand awareness for Onvo as well.
Nio founder, chairman, and CEO William Li reported that Nio stores were bustling with customers even late into the night following the new ES8’s debut. The increased traffic for the ES8 has also piqued interest in the Onvo L90, with many customers visiting Onvo stores as well.
Li emphasized that the market feedback has shown a strong demand for pure-electric three-row SUVs, indicating a promising future for Nio and its sub-brands. The positive response to the new ES8 has reaffirmed Nio’s position in the electric vehicle market and solidified its reputation for innovation and quality.
In conclusion, Nio’s successful launch of the third-generation ES8 and the subsequent surge in stock price demonstrate the company’s ability to meet consumer demand and drive excitement in the market. With a focus on cutting-edge technology and competitive pricing, Nio continues to position itself as a leader in the electric vehicle industry.
