To The Moon

Xi'an, December 23: $NIO Inc.(NIO)$ unveiled its new flagship executive sedan, the ET9, at its NIO Day event. Marking a significant step into the domestic high-end luxury market, the ET9 boasts impressive specifications and innovative features.

NIO ET9 & Nio Day Breakdown (good car, great technology) - YouTube

Size and Price: Positioned between a sedan and a crossover, the ET9 has a large body (5325mm x 2016mm x 1620mm) and a spacious wheelbase of 3250mm. With a pre-sale price of 800,000 yuan and deliveries starting in Q1 2025, it takes aim at established luxury players like the Audi A8, Mercedes-Benz S-Class, and BMW 7 Series.

Technological Triumph: The ET9 showcases NIO's self-developed technology, aiming to elevate the brand image.

Triple Electrification:

• Motors: Powered by NIO's new NT3.0 platform, the ET9 packs a punch with a dual-motor system (180kW/340kW) for thrilling performance.

• Electronics: Featuring a self-developed 1200V silicon carbide power module with exceptional power density (1315kW/L) and over 300,000 power cycles, the ET9 sets a new bar in efficiency and durability.

• Battery: NIO's 46105 battery delivers 5C charging speed, while the 900V global high-voltage fast charging system boasts a peak voltage of 925V, 600kW peak charging power, and 765A peak charging current. This translates to a remarkable 225km range gained in just 5 minutes of charging. Additionally, compatibility with NIO's 3rd generation battery replacement station allows for full charging in a mere 3 minutes.

Intelligent Driving: The ET9 is equipped with NIO's advanced Weilai NOP+ intelligent driving assistance system:

• Self-developed Smart Driving Chip: The "Shenji NX9031" chip, built on a 5nm car-standard process, boasts over 50 billion transistors and a 32-core CPU. Delivering over 1000 TOPS computing power, this single chip seamlessly integrates with NIO's own algorithms.

• 360° Lidar Coverage: Three lidars, including two new 120° surround-view blind-filling lidars, provide comprehensive coverage and heightened safety.

Hardware Innovation:

• MicroLED Headlights: Similar to the Wenjie M9, the ET9 features innovative High-definition Projector headlights with pixel-level MicroLED wide-angle lighting modules, enabling functionalities like light blankets.

• Tianxing Intelligent Chassis: This system enhances driving control through three key features: fully active suspension, wire steering, and rear-wheel steering.

Investment Potential:

The ET9 embodies NIO's commitment to full-stack self-research and technological advancement. It marks a bold entry into the high-end luxury segment, significantly elevating the brand. Currently, NIO is actively cost-cutting, increasing efficiency, promoting battery swapping as a cornerstone technology, and garnering policy support. Strong mass-market new car launches could further propel the company's transformation. We anticipate continued operational improvements in 2024 as NIO enters the NT3.0 era.

Sales Estimates and Key Focus Areas:

• We estimate NIO's sales volume to reach 158,000 in 2023 and 240,000 in 2024. We recommend continued monitoring of the company.

• Close attention should be paid to:

  • Marginal changes in sub-brands like Alpine.

  • NIO's management strategies.

  • Industry-wide adoption of ET9's innovative features like fully active suspension and projector lights.

Risk Warning: The intensifying competition within the industry and potential production/sales deviations can pose risks.