Nio to launch new models or facelifts every quarter from Q2 onwards, CEO says

Some facelifted models are expected to be revealed in a regulatory catalog next week. The facelifted models will feature horizontal screens and Nio's own Shenji autonomous driving chip. (A Nio ET5 on display at a CATL showroom in Chengdu, Sichuan province in August 2024. Image credit: CnEVPost) Nio (NYSE: NIO) previously said this year would be a big year for its products, and its management revealed more details today. From the second quarter to the fourth quarter, Nio Inc will have new product launches every quarter, the company's founder, chairman, and CEO William Li said today in a live video stream on short-form video platform Douyin. “From April through the end of the year, all three of our brands -- Nio, Onvo and Firefly -- will be intensively releasing new products,” Li said. The company's main selling models -- ET5, ET5 Touring, ES6, EC6 -- will get facelifts, and they will get minor exterior changes and interior updates, according to Li. The center screen of the facelifted models will go from the previous vertical screens to horizontal ones and will use Nio's own Shenji autonomous driving chip, Li said. Images and key information about some of the models may be revealed in a regulatory filing catalog from China's Ministry of Industry and Information Technology (MIIT) that is expected to be published next week, according to Li. The facelifted models will not be priced lower than the current models, Li said, adding that now is the best time for potential customers to buy Nio cars. In an earnings call last November 20, Li said 2025 would be a big product year for Nio, with a goal of doubling full-year sales from 2024 levels. The company would enter a new product cycle in 2025, with the first product being the ET9, he said on that call. Nio would have new models on the market as well as revamps of existing models. In 2025 and 2026, Nio Inc would be essentially done switching and upgrading all of its products, he said at the time. For Onvo, the sub-brand would launch two more family SUVs in 2025 -- a mid-to-large-size 6/7-seater SUV, and a large 5-seater SUV, he said last November. Onvo launched its first model, the L60, on September 19, 2024, and deliveries of the five-seat mid-size SUV began on September 2h. Nio launched the ET9 at the Nio Day 2024 event in Guangzhou, Guangdong province, on December 21 last year, with deliveries set to begin in March. The four-seater sedan starts at RMB 788,000 including batteries, its highest price to date. The ET9 is the first model to feature Nio's in-house developed 5 nm process-based Shenji NX9031 autonomous driving chip. Nio ramps up car purchase incentives, launches 5-year 0-interest financing