© Reuters. The logo of NIO is pictured on the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. REUTERS/Annegret Hilse
XIAN (Reuters) – Chinese electric car maker Nio (NYSE:) on Saturday unveiled a flagship model featuring self-developed technologies including semiconductors, betting they would help prop up earnings, as a bruising price war and slowing car demand weigh on profitability.
The ET9 executive sedan, positioned in the same class as Mercedes Benz (ETR:)’s Maybach and Porsche’s Panamera series, is expected to start delivery in the first quarter of 2025 at an estimated price of 800,000 yuan ($112,178), Nio’s founder and chief executive William Li said at the company’s “Nio Day” annual event.
The car will be equipped with Nio’s self-designed autonomous driving semiconductor, 900-voltage electric drive for fast charging and large…
