Stock Track | NIO Inc. Soars 5.71% in Pre-market as New ES8 SUV Hits Chinese Showrooms

Stock Track08-22

NIO Inc. (NIO.SI) shares are soaring 5.71% in pre-market trading on Friday, following the company's announcement of pre-sale pricing for its all-new ES8 SUV. This surge comes on the heels of an impressive 9.27% rally in the previous trading session, signaling strong investor enthusiasm for NIO's latest offering.

The Chinese electric vehicle maker has officially launched its new ES8 SUV, showcasing it in over 300 retail stores across China. The Executive Luxury Edition of the ES8 is available in six-seat and seven-seat configurations, with pre-sale pricing starting at 416,800 yuan (approximately $57,900). Under NIO's innovative Battery as a Service (BaaS) rental model, the starting price drops to a more accessible 308,800 yuan ($42,900), potentially broadening its market appeal.

NIO's founder, Li Bin, highlighted the company's commitment to charging infrastructure, stating that over the past decade, NIO has invested more than 18 billion yuan in the charging and battery swapping sector. This long-term strategy has resulted in a network of over 8,100 NIO charging and battery swapping stations nationwide, including 4,715 charging stations and 3,458 battery swapping stations. The combination of innovative vehicle offerings and robust charging infrastructure appears to be resonating with investors, driving the stock's recent momentum.

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