Nio, the Chinese electric vehicle manufacturer, unveiled its flagship ET9 battery-electric sedan during its annual customer event in Guangzhou on December 21, 2024.

The sedan features Nio's proprietary intelligent driving system, 35 speakers for an enhanced audio experience, and extended legroom for passenger comfort.

Designed to compete with luxury vehicles such as the Porsche Panamera and Mercedes-Benz S-Class, the ET9 aims to capture a premium market segment.

Deliveries of the ET9 are expected to commence in March 2025, as part of Nio's strategy to double its annual sales to at least 440,000 vehicles.

Despite its ambitious growth plans, Nio has faced challenges in meeting sales targets, resulting in a significant drop in its US stock value by about 50% in 2024.

At the same event, Nio announced the launch of a new sub-brand called Firefly, aimed at budget-conscious consumers, with its first model priced from 148,800 yuan.

Firefly's vehicle is designed to compete with models like BMW's Mini and Mercedes' Smart, featuring nine airbags and a potential pricing strategy under 100,000 yuan with battery rental.

Nio's founder and CEO, William Li, expressed ambitions for Onvo, another sub-brand introduced earlier in 2024, to achieve average monthly sales of 20,000 units.

The ET9 also includes a high-voltage charging system that can deliver 225 kilometers of range in just five minutes, enhancing its appeal to consumers.

Nio plans to launch the ET9 model in Europe in 2025, expanding its market reach beyond China.

The ET9 is priced at 788,000 yuan (approximately $108,000), or 660,000 yuan if the battery is rented, making it Nio's most expensive model to date.

Equipped with a 100 kWh battery, the ET9 offers an impressive driving range of 650 kilometers (404 miles) on a single charge.