Nio launched the 2024 ET7 on April 25, starting at the same price as its predecessor while bringing 180 upgrades.

(Image credit: Nio)

Nio (NYSE: NIO) has begun deliveries of the 2024 ET7, its updated electric sedan that went on sale on April 25, the first day of the Beijing auto show.

Deliveries of the 2024 ET7 Executive Edition to the first customers were made on April 30, the Chinese electric vehicle (EV) maker announced today on Weibo.

During the upcoming Labor Day holiday, the ET7 welcomes people for test drives, Nio said.

The Labor Day holiday in China is May 1-5 this year. As part of the holiday schedule, May 11 will be an extra workday, albeit a Saturday.

Nio launched the 2024 ET7 on April 25, starting at the same price as its predecessor but bringing 180 upgrades.

The 2024 ET7 is offered in two options -- Executive Edition, and Executive Signature Edition. Its predecessor offered a standard edition and a Signature Edition.

Nio emphasized the 2024 ET7's executive sedan character to more precisely target the potential user base.

Including the battery, the 2024 ET7 has a starting price of RMB 428,000 ($59,100), the same as the 2023 model.

Notably, the price rises by RMB 10,000 to RMB 516,000 for customers opting for the top-trim version of the ET7.

Initially launched at the Nio Day 2020 event on January 9, 2021, with deliveries beginning in late March 2022, the Nio ET7 is Nio's first model based on the NT 2.0 platform.

The company launched the 2023 ET7 at the Shanghai auto show on April 18, 2023, with a starting price of RMB 458,000 yuan.

On June 12, 2023, Nio lowered the prices of all models by RMB 30,000 and made the free battery swap service a paid option. The 2023 ET7's starting price was lowered to RMB 428,000 at that time.

With nearly 30,000 units delivered since its launch, the Nio ET7 is the No. 1 seller of all-electric sedans priced at more than RMB 400,000 in China, and the No. 1 seller of sedans priced at more than RMB 400,000 from a Chinese brand, William Li, the company's founder, chairman, and CEO, said at the April 25 launch.

($1 = RMB 7.2410)

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