Nio‘s leadership said the newly unveiled ES9 flagship SUV has tapped into an unmet market need for a premium intelligent electric executive vehicle.
According to statements made at a media session the morning after the vehicle’s pre-launch event in Hangzhou, orders from non-Nio customers were running at more than 1.5 times the pace of last year’s ES8 launch.
The ES9 is one of the three large SUVs the Shanghai-headquartered EV maker is launching this year.
Founder and CEO William Li, co-founder and president Lihong Qin, and senior technical executives addressed Chinese media on April 10 in a wide-ranging session covering the ES9’s positioning, pricing strategy, gross margin expectations, and competitive landscape.
Bank of China International said on Monday it expects the ES9 to stabilise at monthly deliveries of 3,000 to 4,000 units, driving combined ES8 and ES9 sales above 10,000 units per month.
Nio‘s management has not disclosed any pre-order figures on April 10 or in the following days.
Target Market
Li explicitly named the BMW X7 and Mercedes GLS as the vehicles the ES9 is designed to compete against — executive-class SUV owners, not the broader “all-scenario” SUV buyers the ES8 targets.
“Executive SUVs, or SUVs for executive-style use, that market is actually not small,” Li said.
“Originally there wasn’t a good supply of intelligent EV products, or there wasn’t a good supply of high-tech-content products that fit China’s new consumption needs. I think the ES9 fills exactly this gap,” he added.
Nio‘s founder and chief executive described the ES9 as “the creator of the intelligent electric executive SUV category,” adding that “we don’t think there has been such a product in this market before.”
The model is the second one from the flagship 9-series of the premium Nio brand.
The first one — a sedan named Nio ET9 — has missed expectations with lower than expected demand.
Now, the ES9 was pre-launched with a more aggressive pre-sale price.
Li drew a clear distinction between the ES9 and competitor models marketed with a “9” designation.
“There are some others selling well, but I think more of what they talk about is ‘all-scenario.’ I think they’re often closer to the target user definition of our ES8 — because the ES8 is positioned as our all-scenario flagship SUV.”
The co-founder and president Lihong reinforced the point.
“If you take the ES9 out and put the ES8 in, it feels more harmonious” — he stated, referring to a widely circulated comparison chart of nine competing flagship SUVs.
Demand Signal
Li said that orders from buyers outside the existing Nio community were running at more than 1.5 times the equivalent period after last year’s ES8 product and technology launch. He did not disclose absolute figures.
“We were specifically discussing this number at breakfast this morning,” Li said. “What does this number say?”
Lihong Qin attributed the strong interest to a lack of supply in the market.
“Those that are spiritually on point seem to evolve a bit slowly on the physical side,” the executive stated. “Those that are on point on physical specs feel a bit empty in the soul. Those that look fierce and aggressive seem a bit weaker on the agile, intelligent side.”
In short, an intelligent electric flagship SUV that brings all of these things together — perhaps our ES9 has hit something that everyone’s been thinking but hasn’t been able to articulate, an unmet need.”
Li also disclosed that ET9 executive sedan owners had placed orders for the ES9 at the launch event. “People feel that having both 9’s is great — different uses, different scenarios,” he said.
Separately, Li said the secretary-general of an entrepreneurs’ club had contacted him the night before the media session to survey demand among its members.
“This kind of demand really is something we’ve rarely seen before,” Li told reporters.
ES9 Will Boost ES8
Li said the ES9 would boost ES8 sales rather than cannibalise them, as the two vehicles serve different buyer segments.
The ES8 is positioned as Nio’s “all-scenario flagship SUV” while the ES9 targets the executive-class buyer upgrading from combustion-engine luxury SUVs.
Last September, the third-generation ES8 sold out its entire 2025 production capacity within 36 hours of launch and accumulated over 100,000 orders within 48 hours.
The ES8 was the top-selling large SUV in China for three consecutive months earlier this year.
Pricing and Margin
Li said at a separate media briefing over the weekend that the ES9 will generate the highest gross profit amount of any Nio SUV — a significant claim given that the ES8 was the single biggest contributor to the gross margin improvement behind the company’s Q4 2025 breakthrough, when Nio posted its first-ever GAAP net profit of 282.7 million yuan.
“The ES9’s gross profit amount is definitely the best among all of Nio’s SUV models, and the gross margin is also OK,” Li said. He expects the ES9 to have a meaningful impact on operating profit starting in Q2, when deliveries begin on June 1.
Qin said at the April 10 media session that the pre-sale pricing already accounts for raw material fluctuations. “In our pre-sale pricing, including our expectations for a reasonable profit margin, we have already taken into account, within our capability boundary, the possible impact of raw-material price fluctuations,” he said. “We’ve made the corresponding preparations.”
He acknowledged two camps of feedback: users wanting the price lower and supporters concerned the pricing was “too generous.” Qin responded: “Please rest assured — we will fully balance the sense of value users get with the sustainability of our business.”
Qin also gently steered buyers toward the Luxury edition, calling it “already top-tier” and “maxed out” for most daily needs, adding: “Don’t be completely at odds with your wallet.”
Li agreed: “There will probably be quite a lot of users who choose the Luxury edition, because in terms of value-for-money, it’s fully loaded.”
No Four-Seater Planned
Li ruled out a four-seater ES9 variant.
“In the SUV category, we currently have no plans for an ES9-plus or ES4 — no such product is planned,” he said.
He said the ES9’s 816 litres of storage space covers 95% of cargo needs, making a dedicated four-seater unnecessary.
The six-seater third row, in either aisle or centre-island configuration, serves as a natural partition and what Nio markets as a “mobile dressing room.”
“The question is whether our current six-seater version isn’t actually better than a four-seater,” Li said. “As long the third row isn’t folded down, isn’t it actually a better partition?”
Systems Competition
Li used the session to argue that the auto industry’s ultimate competition is systemic, not single-point.
“Competition in the auto industry is not single-point competition,” he said. “The auto industry’s value chain is very wide and very long, and auto users aren’t one-time consumers. When they buy a car, for their family it may be the largest purchase after a house.”
He cited Toyota as an example.
“If you look at a ten-year-old Toyota, or compare the residual value of a twelve-year-old Toyota with a twelve-year-old car of another brand — the difference is quite significant.”
Li said Nio‘s approach has been consistent since founding: “From day one, system capability is the ultimate place of competition.”
ES9 Pricing
The ES9 opens pre-sales in three trims sharing a 520 kW dual-motor powertrain and a 102 kWh CATL battery with up to 620 km of CLTC range.
The Executive Luxury Edition starts at 528,000 yuan with the battery included, or 420,000 yuan under Nio‘s Battery as a Service leasing scheme.
The Executive Signature starts at 588,000 yuan (480,000 with BaaS), and the range-topping Horizon Special Edition at 658,000 yuan (550,000 with BaaS).
Both six-seat configurations — centre island and aisle layout — are available across all trims.
The official launch price, due at the formal debut on May 28, is expected to be slightly lower in line with previous Nio launches. Customer deliveries are scheduled to begin on June 1.
