Deliveries of the Nio ES7 are expected to begin on August 28, with show cars and test cars expected to start arriving at Nio stores in late July.

(Image credit: Nio)

Nio (NYSE: NIO, HKG: 9866, SGX: Nio) launched its highly anticipated new SUV, the ES7, yesterday, and its mobile app provided details on how users can reserve it in a subsequent post.

The Nio ES7's standard range version with a 75-kWh battery pack is priced at RMB 468,000 ($69,870) before subsidies. Users who purchase it using BaaS, Nio's battery rental service, will have to pay RMB 398,000, with a monthly battery rental fee of RMB 980.

The Nio ES7 with the 100-kWh long-range battery pack is priced at RMB 526,000 before subsidies. It is priced at RMB 398,000 in BaaS model, with a monthly battery rental cost of RMB 1,680.

In addition to these two versions, Nio also offers a first edition with a pre-subsidy price of RMB 548,000. It is priced at RMB 420,000 in BaaS model, with a monthly battery rental cost of RMB 1,680.

Under China's current subsidy policy for the new energy vehicle (NEV) industry, vehicles priced above RMB 300,000 are excluded unless they support battery swap, so Nio vehicles will still be eligible for purchase subsidies this year. By next year, China's purchase subsidies for NEVs will be completely eliminated.

For individuals who reserve an ES7 now and have it delivered within the year, they will receive a subsidy of RMB 11,340 for the Nio ES7 with the 75-kWh battery pack if they choose 20-inch wheels, and RMB 12,600 for the 100-kWh battery pack version.

If they choose the 21-inch wheels, the subsidies are RMB 9,072 and RMB 10,080 respectively.

Nio's NAD (Nio Autonomous Driving) feature is on a subscription basis and users will have to pay RMB 680 per month to get all the features.

The first owners of Nio ES7 will get a 10-year warranty without mileage limit, free lifetime roadside assistance, free lifetime vehicle internet connection, up to 6 free battery swap services per month, and free exclusive charging pile.

They will also receive a free 7-kW DC charging pile, and if they wish to get an 11-kW or 20-kW charging pile, then they will need to pay an additional RMB 2,300 and RMB 9,800 respectively.

Nio also offers additional benefits for existing customers to purchase the ES7.

Nio ES8 founding edition owners will receive RMB 10,000 off the purchase of an ES7 and will also receive an additional 50,000 Nio Credits, equivalent to RMB 5,000.

For other Nio owners, they will receive a RMB 7,000 purchase discount and an additional 30,000 Nio Credits if they purchase the ES7.

Deliveries of the Nio ES7 are expected to begin on August 28, with show cars and test cars expected to start arriving at Nio stores in late July.

Its electric tow hook is expected to be open for pre-order in August and deliveries are expected to begin as early as September 2022.