NIO’s mass-market sub-brands will be priced in the RMB 200,000 range, and they will compete with Tesla’s Model 3 and Model Y, but at a 10 percent discount, Li said.
Deutsche Bank analyst Edison Yu’s team believes NIO’s deliveries are expected to move higher, shifting the narrative from supply constraints to a strong product super cycle.
Denza plans to start showcasing the D9 MPV and opening it for test drives in some core cities in China in June-July, and will officially launch the model in July.
The Kirin battery’s innovative design prevents thermal runaway of the pack and holds 13 percent more power than the 4680 battery, according to CATL’s Wu Kai.
The pricing represents a 12 percent discount to CATL’s closing price in Shenzhen on Wednesday and a premium of about 21 percent to the offering’s floor price of RMB 339.67.
Former education company backed by Bain Capital rises from the ashes through a reverse merger with the electric vehicle charging business of NewLink, another Bain-backed Chinese company.