Chinese electric vehicle maker Nio is offering steep discounts of up to 190,000 yuan ($26,480) on its ET7 sedan and EC7 coupe SUV as it looks to “clear inventory,” a person familiar with the matter told EV on Monday.
The new offer comes as sales of the Nio brand in China fell by more than 30% year over year in the last two months.
The figures rose 10% month-on-month in June to 14,593 units, but fell 31.2% year-on-year. In May, deliveries dropped by about 35% to 13,270 units.
For the final quarter of the year, the company aims to reach 25,000 monthly deliveries under its core brand.
The latest discount, which aims to clear inventory of both 7-series models and is not available on other models, is specifically tied to the 75 kWh battery subscription version.
Under the offer, the ET7 starts at 230,000 yuan ($32,050) and the EC7 at 260,000 yuan ($36,230).
The ET7 price is down from its official starting price of 420,000 yuan ($58,500) — a reduction of 190,000 yuan ($26,500), or 45.2%, the same source told EV.
Both models — which have not been included in the portfolio upgrade announced in May — have the battery subscription plan for 728 yuan per month, equivalent to $101.
All the vehicles of the offer are stock units which were produced “within the past six months,” the same source told EV while adding that a refreshed version for both 7-series models is “expected in about half a year.”
The ET7, introduced in April 2024 with updated interior, driving, and digital cockpit features, has not received any hardware upgrades in 2025. Similarly, the EC7 remains on the previous-generation platform.
These price cuts are separate from Nio’s previously announced nationwide incentives, which are broadly available across multiple models in its lineup.
These include a 20,000 yuan rebate for forgoing interest-free financing, another 20,000 yuan for waiving battery swap vouchers, and up to 32,000 yuan for showroom or inventory vehicles with more than seven days of production age.
Additional local subsidies — which vary by city — can add up to 19,000 yuan, subject to registration and licensing conditions.
The recently-refreshed four models ET5, ET5 Touring, EC6 and ES6 (known as EL6 in Europe) are also with several incentives valid through July 31.
Buyers will receive up to 240 free battery swaps over five years, zero-interest loans with no handling fees, and five years of complimentary access to the company’s Navigate on Pilot Plus (NOP+) assisted driving software.
Nio will also provide 10 battery upgrade vouchers and a 4,000 yuan ($557) subsidy for home charger installation.
Customers who trade in their vehicles through Nio’s official channels are eligible for additional incentives, including travel discounts and one year of free NOP+ usage.
The offer also includes a 9,500 yuan accessory package for buyers of the new ET5 and ET5 Touring.
Citing the launch of the new Nio ES8 and the ramp-up of the recently launched four models, the chief executive William Li said at the latest earnings call the company expects monthly sales of the core brand to be “around 25,000” units in the final quarter of the year.
“With that, we believe that in Q4 for the Nio brand, the monthly delivery will be around 25,000 units. That’s around 20% year over year growth from last year’s Q4, which was around 20,000 units a month,” he stated.
Besides the volume, Li said also vehicle margin will rise and surpass 20%.
“In that case, while improving the sales volume, we are also going to improving our vehicle gross margin significantly for the Nio brand to be above 20% in Q4,” he added.
