• The third-generation ES8 comes standard with a 100-kWh battery pack, with a starting price of RMB 416,800 ($58,050), a 25.04 percent drop from the older ES8 with the same battery capacity.
• Under the BaaS plan, the starting price for the third-generation ES8 is RMB 308,800, which is lower than the starting price of RMB 339,000 for the Tesla Model Y L six-seat SUV.

Nio Inc's (NYSE: NIO) flagship SUV (sport utility vehicle) ES8 has never been a direct competitor to the Tesla (NASDAQ: TSLA) Model Y.

Now, with the debut of the new-generation ES8, the pricing of the Nio SUV has dropped into the range of one of the best-selling cars in China.

Nio unveiled the all-new ES8 at an event held today in Chengdu, Sichuan, and highlighted its product and technological features.

The large SUV has begun pre-sales, with official launch and deliveries set to begin at Nio Day 2025 in late September.

The updated ES8 comes standard with a 100-kWh battery pack, with a starting price of RMB 416,800 ($58,050) in the pre-sales, including the battery pack.

This represents a reduction of RMB 139,200, or 25.04 percent, compared to the older ES8 with a 100-kWh pack, which had a starting price of RMB 556,000 yuan.

Under the BaaS (Battery as a Service) battery rental plan, the starting price for the third-generation ES8 is RMB 308,800, lower than the RMB 428,000 BaaS starting price for the older ES8 with the same 100-kWh battery pack.

The second-generation ES8 came standard with a 75-kWh battery pack, with a starting price of RMB 498,000 including the battery, and a starting price of RMB 428,000 under the BaaS plan.

Even compared to the starting price of its predecessor equipped with a 75-kWh battery pack, the starting price of the third-generation ES8 has decreased by RMB 81,200, or 16.31 percent.

Nio offers three trims for the third-generation ES8: the six-seat Executive Luxury Edition, the seven-seat Executive Luxury Edition, and the six-seat Executive Signature Edition. The starting prices, including the 100-kWh battery pack, are RMB 416,800, RMB 416,800, and RMB 456,800, respectively.

Under the BaaS scheme, the starting prices for these three variants are RMB 308,800, RMB 308,800, and RMB 348,800, respectively, which are even lower than the starting price of RMB 339,000 for Tesla's (NASDAQ: TSLA) Model Y L six-seat SUV in China.

It is worth noting that these are only pre-sales prices, and the official launch prices could be further reduced.

In addition to the significant price reduction, Nio has adopted larger dimensions for the all-new ES8 and introduced a host of feature upgrades.

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 had dimensions of 5,099 mm in length, 1,989 mm in width, and 1,750 mm in height, with a wheelbase of 3,070 mm.

Due to its larger dimensions, Nio said that the new-generation ES8 has been upgraded from a mid-to-large SUV to a large SUV.

The vehicle is built on a 900-volt high-voltage platform, with a maximum voltage of 925 volts.

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

The model will have a 120-kWh battery pack option in the future, which supports 5C fast charging.

C refers to the charging rate, with 5C theoretically meaning the battery can be fully charged in one-fifth of an hour.

The SUV can achieve 250 kilometers of range with a 5-minute charge and a 3-minute quick battery swap to a fully charged battery.

The third-generation ES8 adopts a new design language, with a front face that differs significantly from the first and second generations of the SUV, and introduces a large frunk for the first time.

In China's EV market, the frunk is important as it is seen as a sign of a vehicle's high component integration due to advanced technologies.

Nio founder, chairman, and CEO William Li introduced the design details of the third-generation ES8's interior and exterior at today's event, highlighting the vehicle's luxurious features.

Like the ET9 executive flagship sedan and other updated models launched by Nio earlier this year, the third-generation ES8 is equipped with Nio's in-house developed Shenji NX9031 autonomous driving chip, which has the same computing power as four Nvidia Orin X chips.

Like the ET9, the third-generation ES8 is equipped with three LiDARs, including a main LiDAR on the roof with a detection range of up to 500 meters, and two 120-degree wide-angle LiDARs on the sides of the vehicle. Its predecessor only had one roof-mounted LiDAR.

The new-generation ES8 is equipped with the same dual-motor all-wheel drive system as the ET9, delivering a peak power of 520 kW (707 horsepower) and a peak torque of 700 Nm.

This powertrain enables the vehicle to accelerate from 0 to 100 km/h in 3.97 seconds, which Nio said is the fastest acceleration in its class.

As Nio's first mass-produced model, the ES8 holds strategic significance for the company.

The SUV's first generation, based on the NT 1.0 platform, was launched at Nio Day 2017 on December 16, 2017, making it one of the earliest premium vehicles from a Chinese domestic automaker.

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

Since deliveries began in June 2018, the ES8 had accumulated 93,296 deliveries as of the end of July, according to data compiled by CnEVPost.

In July, the ES8 delivered 1,090 units, the highest since January 2024, potentially due to Nio clearing inventory ahead of the upcoming launch of the third-generation ES8.

Nio offers exclusive benefits to early adopters of the updated ES8, allowing them to deduct RMB 10,000 from the final payment after paying a RMB 5,000 deposit.

($1 = RMB 7.1800)