NIO’s ES9 is here, and the market liked what it saw.
NIO stock climbed 8.27% to $5.70 on Wednesday, reaching an intraday high of $5.80 after opening at $5.20. Volume hit 61 million by midday, running at roughly 145% of the three-month average.
The catalyst was the official launch of the ES9 — NIO’s largest SUV ever — with pricing that came in below what the company had announced at pre-sales just six weeks ago.
The base Executive Premium Edition starts at 498,000 yuan, or about $69,000. Under NIO’s Battery-as-a-Service model, where buyers lease the battery rather than own it, the price drops to 390,000 yuan, or around $54,000. That’s 30,000 yuan cheaper than the 528,000 yuan pre-sale figure announced on April 9.
NIO ES9 launch price revealed!
Three variants available. Starting at 498k RMB for full purchase, or 390k RMB with BaaS.
The Signature edition features 48V integrated active suspension, dual NX9031 chips, NOMI Mate 3.0, privacy dimming windows, 22-inch wheels, and 22-point… pic.twitter.com/x4xSC9WVeg
— ChinaEV Home (@CNEVhome) May 27, 2026
The price cuts ran across all three trims. The Executive Signature starts at 558,000 yuan (450,000 with BaaS), and the top-spec Horizon Edition starts at 628,000 yuan (520,000 with BaaS).
First deliveries in China begin Thursday.
The ES9 is built on NIO’s NT3.0 platform with a 900-volt architecture. The dual-motor powertrain puts out 520 kW (697 hp) and 700 Nm of torque, getting the SUV from zero to 100 km/h in 4.3 seconds. The base trim pairs with a 102 kWh CATL battery for a CLTC range of 620 km.
At 5,365 mm long with a 3,250 mm wheelbase, it is the largest battery electric SUV produced in China.
Pre-orders exceeded 50,000 ahead of the launch, according to Chinese outlet ChinaEVHome. Frontline sales staff estimated a conversion rate above 50%, which would put firm orders above 25,000.
NIO built a pre-launch inventory of at least 6,000 units at its factory and delivery centers to support same-day handovers.
CEO William Li, speaking on the Q1 earnings call last week, said orders from buyers outside the existing NIO community were running at more than 1.5 times the equivalent period after the 2025 ES8 launch.
That matters. The third-generation ES8 had a 24-to-26-week wait just two days after orders opened last September. NIO is clearly hoping the ES9 does the same.
Deutsche Bank lifted its 2026 delivery forecast for NIO by about 5% to around 420,000 units, with the ES9 named as the key catalyst. It expects average monthly ES9 sales to reach 5,000 units once production ramps in the second half of 2026.
CLSA initiated coverage of NIO’s Hong Kong-listed stock with an Outperform rating and an HK$55 target, while raising its US ADR target to $7 from $6. The broker pointed to two consecutive quarters of non-GAAP profitability, with Q1 vehicle gross margin hitting 18.8%.
NIO has crossed 1.1 million cumulative deliveries. After 98% year-over-year delivery growth in Q1 2026, growth slowed to 22.8% in April. Li has named the ES9 and the ONVO L80 as the two models expected to drive the second half of the year.
Basketball legend Yao Ming appeared at the launch event as the ES9’s “Chief Experience Officer.”
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