US Stock Movement | Nio Soars 13% as the Pre-sale Price of the New ES8 is Significantly Lower than Market Estimates

On Friday, Nio surged 13%, closing at USD 6.30. In terms of news, on the evening of August 21, Li Bin announced at the launch event for the new ES8 product that the new ES8 is now available for pre-order, with a starting price of RMB 416,800 for the complete vehicle purchase, and a starting price of RMB 308,800 for the battery rental option. It will officially launch and begin deliveries in late September. This pre-sale price is significantly lower than market estimates. On August 22, Nio CEO Li Bin stated in a media interview that the new ES8 is simply "returning to the pricing range it should be in," and if pursuing higher gross margins, it would be "difficult to participate in the current market competition" in terms of the relationship between volume and price