Nio, the Chinese electric vehicle manufacturer, has made a significant leap in electric vehicle technology with its new 150-kWh battery. This innovation promises to extend the driving range of electric vehicles well beyond the current industry leaders, such as the Lucid Air.
On Tuesday, the company revealed that its Chairman, William Li, successfully completed a test drive spanning 1,044 kilometers (approximately 648.7 miles) in a Nio ET7 mid-size sedan using this battery. This achievement surpasses the Lucid Air’s highest EPA-rated range of 516 miles.
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During the test, Li, accompanied by two other individuals, drove from Shanghai to Xiamen. The journey, which took around 14 hours, faced temperatures below freezing at certain points – conditions usually detrimental to battery performance. The test concluded with 97% of the battery’s capacity being utilized.
Nio’s CEO and Founder William Li and the 2022 ET7
Nio’s strategy includes making this Ultra Long Range battery compatible across all its models. Some of Nio’s battery-swapping stations in China already offer this battery. Customers can choose this battery for long trips and switch back to a smaller, lighter battery for everyday use, thanks to Nio’s flexible battery exchange options.
In related news, Nio President Lihong Qin announced plans to introduce two new brands offering more affordable vehicles than the current Nio lineup. The first brand, named Firefly, is expected to debut in Europe by 2025.
Despite being hailed as China’s answer to Tesla, Nio has seen a dip in sales due to Tesla’s recent price reductions. Nio anticipates selling over 150,000 units in 2023, a figure dwarfed by Tesla’s projected sales. To bolster its finances, Nio has been issuing new shares, with the latest issuance involving a $2.2 billion purchase by Abu Dhabi’s CYVN Holdings. This transaction increased CYVN Holdings’ stake in Nio to approximately 20%, following a prior $1 billion investment in July.
Frequently Asked Questions (FAQs) about Nio ET7 Range
What is the range of the Nio ET7 with the new 150-kWh battery?
The Nio ET7, equipped with the new 150-kWh battery, achieved a remarkable range of approximately 648.7 miles (1,044 km) on a single charge during a test drive.
How does the Nio ET7’s range compare to the Lucid Air?
The Nio ET7 surpasses the Lucid Air in terms of range. While the Lucid Air’s highest EPA-rated range is 516 miles, the Nio ET7 achieved around 648.7 miles with its new battery.
What conditions were faced during the Nio ET7’s range test?
The range test for the Nio ET7, which covered 648.7 miles, was conducted in varying temperatures, including parts of the journey below freezing, which generally impacts battery performance negatively.
Can the new 150-kWh battery be used in other Nio models?
Yes, the new 150-kWh Ultra Long Range battery developed by Nio is designed to be compatible with all of its models and is available at some of Nio’s battery-swapping stations in China.
What are Nio’s plans for launching more affordable vehicle brands?
Nio plans to launch two new brands focusing on more affordable vehicles compared to its current lineup. The first brand, named Firefly, is set to launch in Europe by 2025.
How has Nio been affected by Tesla’s price cuts?
Nio, once considered China’s Tesla, has experienced a decline in sales due to Tesla’s recent price cuts. Nio’s sales in 2023 are projected to be just over 150,000 units, significantly lower than Tesla’s projections.
How is Nio addressing its financial challenges?
To address its financial challenges, Nio has been issuing new shares. The most recent share issue involved a $2.2 billion investment by Abu Dhabi-based CYVN Holdings, increasing their stake in Nio to about 20%.
More about Nio ET7 Range
- Nio Unveils 150-kWh Battery
- Nio ET7’s Record-Breaking Range Test
- Comparison: Nio ET7 vs. Lucid Air
- Nio’s Battery Swapping Stations
- Nio’s Affordable Vehicle Brands Launch
- Impact of Tesla’s Price Cuts on Nio
- Nio’s Financial Strategies and Share Issuance
6 comments
wow, Nio’s really pushing the limits with their new battery, 648 miles is crazy!! Lucid Air’s gotta step up their game.
Interesting move with the new affordable brands, could be a gamechanger in Europe if they price it right.
Is it just me or are these range numbers getting insane? Hard to believe we were excited about 200 miles just a few years back…
Issuing new shares again? Seems like Nio’s financials are a bit shaky, hope they can keep it together.
gotta wonder how they manage battery longevity with such high capacity, hope it doesn’t degrade too fast over time…
Nio’s doing great stuff, but those Tesla price cuts are a real game changer, tough for any competitor really.