NIO Day 2024, held on December 21 in Guangzhou, China, showcased significant new models including the ultra-luxe ET9 sedan and the inaugural model from the new Firefly sub-brand.

The ET9 sedan, starting at RMB 788,000 (approximately $108,000) with the battery included, features advanced technology such as NIO's in-house designed autonomous driving chip and a unique intelligent chassis system.

This flagship sedan boasts a range of 650 km (404 miles) and can accelerate from 0 to 100 km/h in just 4.3 seconds.

The ET9 is based on a 900V platform and includes an innovative wire-controlled chassis, making it NIO's most expensive model to date.

A limited launch edition of the ET9 was offered at RMB 818,000 ($112,065) and sold out all 999 units within 24 hours.

Deliveries of the ET9 are expected to commence in China in the first quarter of 2025, with NIO anticipating sales to reach 1,500 units per month.

Additionally, the ET9 will be available in a battery-as-a-service version, starting at RMB 660,000 ($90,420), which includes a monthly battery rental fee.

At the event, NIO also introduced its Firefly sub-brand, which aims to compete in the compact car market with models priced between RMB 100,000 ($13,800) and RMB 200,000 ($27,500).

The first model from Firefly is priced at RMB 148,800 ($20,390) and supports battery swaps, indicating a potential battery-as-a-service rental program.

Firefly's global rollout will begin in China in April 2025, with plans to expand into Europe by the third quarter of 2025 through local partner outlets.

The NIO Day event is highly anticipated as it has historically been a platform for unveiling key products and market expansion plans.

NIO expects to achieve significant sales for both the Firefly EV and the ET9, projecting monthly sales of 1,500 units.