• The all-new ES8 starts at RMB 406,800 ($57,170), which isn't cheap but is highly competitive for the model itself and its segment.
• Deliveries of the all-new ES8 will begin on September 21, with Nio pledging more than 40,000 units of production capacity for the model this year.

Nio Inc (NYSE: NIO) today officially launched the all-new ES8 SUV (sport utility vehicle) -- the third major iteration of its first mass-produced vehicle, which could become one of the company's most successful models.

The third-generation ES8 was rolled out at Nio Day 2025 in Hangzhou, Zhejiang province --marking the first time Nio held the event in the fall rather than year-end -- with pricing further reduced from its already competitive pre-sales price.

The model starts at RMB 406,800 ($57,170) including a 100-kWh battery pack, a reduction of RMB 10,000, or 2.40 percent, from the pre-sales starting price of RMB 416,800.

Under the BaaS (Battery as a Service) plan, the new ES8 starts at RMB 298,800 with a monthly battery rental fee of RMB 1,128.

This pricing is viewed as highly competitive -- not because it's cheap, after all, vehicles priced above RMB 300,000 are considered premium in China -- but relative to the ES8's own positioning.

As Nio's inaugural model, the ES8 has succeeded in establishing the brand's premium positioning, despite modest monthly deliveries over the past few years.

Chinese consumers have broadly accepted the ES8 as a high-priced luxury vehicle, typically priced around RMB 500,000.

With the all-new ES8 -- China's first pure-electric SUV to undergo three major iterations --offering significantly reduced pricing and upgraded specifications, it is now perceived as delivering exceptional value.

The all-new ES8's final pricing represents a RMB 149,200 reduction, or 26.83 percent, compared to the previous 100-kWh ES8's starting price of RMB 556,000.

Under the BaaS plan, its starting price is RMB 129,200, or 30.19 percent, lower than the RMB 428,000 BaaS starting price of the older 100-kWh ES8.

Specifically, the new ES8 offers three variants: the six-seat Executive Luxury Edition, seven-seat Executive Luxury Edition, and six-seat Executive Signature Edition. The first two variants start at RMB 406,800, while the third starts at RMB 446,800.

Under the BaaS plan, the starting prices for these three variants are RMB 298,800, RMB 298,800, and RMB 338,800 respectively.

Currently, only the 100-kWh battery pack is available for the ES8, with a monthly rental fee of RMB 1,128.

Deliveries of the all-new ES8 will commence tomorrow, September 21. Nio founder, chairman, and CEO William Li has pledged that production capacity for the model this year will exceed 40,000 units.

Should Nio fail to fulfill this year's orders due to production constraints, the company will compensate consumers for losses incurred from reduced vehicle purchase tax incentives next year.

From 2024 to 2025, China has been continuing exempting new energy vehicles (NEVs) from purchase tax, but the tax exemption per vehicle does not exceed RMB 30,000.

From 2026 to 2027, vehicle purchase tax will be levied at half the standard rate of 10 percent, with a maximum tax reduction per vehicle capped at RMB 15,000, according to a policy announced in June 2023.

During a September 2 earnings call, Nio management said that the all-new ES8 will reach a production capacity of 10,000 units in October and 15,000 units in December.

Nio Inc aims to deliver 150,000 vehicles in the fourth quarter, averaging 50,000 deliveries per month, the company said at the time.

The first-generation ES8, based on the NT 1.0 platform and launched at Nio Day 2017 on December 16, 2017, was among the earliest premium vehicles from a Chinese automaker.

The second-generation ES8 was launched at Nio Day 2022 on December 24, 2022, transitioning to the NT 2.0 platform. Nio has since made minor updates to the model.

The third-generation ES8 upgrades the SUV to the NT 3.0 platform, though Nio has downplayed references to vehicle platforms.

The latest update also elevates the ES8 from a mid-to-large SUV to a full-size SUV, making it the longest pure-electric SUV in the Chinese market.

The third-generation ES8 measures 5,280 mm in length, 2,010 mm in width, and 1,800 mm in height, with a wheelbase of 3,250 mm. Its predecessor measured 5,099 mm in length, 1,989 mm in width, and 1,750 mm in height, with a wheelbase of 3,070 mm.

The updated ES8 is built on a 900-volt high-voltage platform, capable of operating at a maximum voltage of 925 volts.

Its 100-kWh battery pack delivers a CLTC range of 635 kilometers and supports a 4C charging rate.

The new ES8 will offer a 120-kWh battery pack option in the future supporting 5C fast charging, enabling 250 km of range in just 5 minutes.

Like other new Nio models, the third-generation ES8 features Nio's in-house developed Shenji NX9031 smart driving chip based on a 5nm process, replacing the four Nvidia Orin X chips used in its predecessor.

The ET9 executive flagship sedan incorporates two Shenji NX9031 chips.

Like other Nio models, the new ES8 has a strong powertrain. Its dual motors produce a combined output of 520 kW (697 horsepower), enabling 0-100 km/h acceleration in 3.97 seconds.

Since deliveries began in June 2018, cumulative ES8 deliveries reached 93,373 units by the end of August, according to data compiled by CnEVPost.

The SUV's peak monthly delivery record was at 3,318 units in December 2018, driven by ramped up production capacity post-launch and year-end demand surges.

The third-generation ES8 is poised to easily set a new monthly delivery record in its first full delivery month of October, helping Nio achieve higher delivery volumes and gross margins.

The only concern now is how long this momentum will last, as China's fiercely competitive market offers so many choices that a new model can lose its luster within months of launch.

($1 = RMB 7.1156)