EV maker Nio has set aside production capacity for more than 40,000 units of its new ES8 SUV this year, founder and CEO William Li said.
The third generation, officially launched on Saturday, of the model officially went on sale immediately after the event — and a month after pre-orders opened at the pre-launch.
Deliveries of the six- and seven-seat SUV are set to begin on Sunday, September 21.
“We’ve allocated capacity for more than 40,000 units this year,” Li said at the company’s annual event in Hangzhou, adding that customers who do not receive their vehicles will be compensated.
“If initial order users don’t receive their cars by the end of 2025, we’ll cover the purchase tax for the following year,” Nio‘s chief added.
Pricing for the new ES8 starts at 406,800 yuan ($57,100) for the six-seat and seven-seat Executive Luxury trims, and 446,800 yuan ($62,800) for the six-seat Executive Signature.
Customers opting for Nio’s Battery-as-a-Service subscription can lower the upfront purchase price to 298,800 yuan ($42,000) for the Executive Luxury versions and 338,800 yuan ($47,600) for the Executive Signature.
Earlier this month, Nio management said its fourth-quarter delivery target of 150,000 vehicles would now include its entry-level Firefly brand, broadening a goal that was previously set only for the Nio and Onvo marques.
At the company’s second-quarter earnings call, Li said that “our Q4 target is to achieve an average of 50,000 units deliveries per month for all three brands, which means that in Q4 our quarterly delivery target combining all three brands is 150,000 units.”
He added that demand for the two newly launched models has been stronger than expected.
“It is true that with the launch of the Envoy L90 and also the Nio ES8, we actually see a stronger market demand higher than what we’ve expected before the launch,” Li said.
To meet that demand, the company is accelerating supply chain ramp-ups.
“For the ES8, as the ramp up of production takes slightly longer, we hope that the full supply chain capacity can achieve 150,000 units in December.”
The updated guidance marks a shift from earlier expectations.
In June, Nio had said its core brand would target about 25,000 deliveries per month in the fourth quarter, or 75,000 units, while Li separately stated Onvo would aim for a similar level — together implying 150,000 units, excluding Firefly.
Based on third-quarter guidance in its earnings report, Nio expects to deliver between 34,678 and 38,678 vehicles in September.
