A Nio ES9 on display at the Beijing Auto Show in April 2026. Credit: CnEVPost
- Analysts estimate that the ES9 has already secured over 25,000 non-cancellable orders.
- High-margin models, including the ES9 and ES8, are expected to drive Nio to continue achieving non-GAAP profitability in the second quarter.
Nio Inc’s (NYSE: NIO) new flagship SUV (sport utility vehicle), the ES9, delivered 3,108 units in the last four days of May.
The data, sourced from the China Passenger Car Association (CPCA), demonstrates a strong start for the model.
The full-size SUV was officially launched on May 27 and began deliveries the next day on May 28.
The starting price for the ES9 with the battery pack included is set at 498,000 yuan ($73,407), making it one of the highest-priced models from a local Chinese brand.
If consumers opt for the BaaS (battery as a service) battery rental program, the starting price of the model drops to 390,000 yuan.
The strong delivery performance of the model is reshaping Nio’s financial outlook. Deutsche Bank analysts expect the Chinese EV (electric vehicle) maker to continue achieving non-GAAP profitability in the second quarter.
In a research note earlier today, the bank forecast that Nio’s non-GAAP net profit for the second quarter will reach about 180 million yuan.
The improvement in profitability is primarily attributed to the increased proportion of high-margin models in total sales.
In addition to the new ES9, another large SUV, the ES8, has also maintained strong sales momentum, delivering 11,475 units in May, according to data released by Nio earlier this month.
Ma Lin, Nio’s vice president of branding and communications, said earlier today that the average transaction price of the Nio main brand’s vehicles last week had exceeded 450,000 yuan.
This price level has surpassed major competitors such as Mercedes-Benz, BMW, and the Huawei-backed Aito, he hinted.
Behind the strong delivery figures is a massive order backlog. Deutsche Bank estimates that the ES9 has secured over 25,000 non-cancellable orders.
The surge in new orders has led to lengthy delivery wait times. Customers ordering the base version of the ES9 face an 8 to 9-week wait. Meanwhile, the wait time for higher-end versions equipped with advanced suspension systems stretches to 16 to 17 weeks.
The EV maker expects to complete the delivery of the 10,000th ES9 in June. Deutsche Bank has raised its 2026 full-year delivery forecast for the ES9 to 56,000 units and increased Nio’s total sales forecast to 450,000 units.
The launch of the flagship SUV also came just hours after the Huawei-backed Aito brand released its updated M9 SUV, which has a starting price of 479,800 yuan.
To stand out in the fiercely competitive market, Nio has equipped the ES9 with a host of advanced technologies. The new car comes standard across all trims with the latest generation 900-volt high-voltage architecture, and its dual-motor powertrain allows it to accelerate from 0 to 100 kilometers per hour in just 4.3 seconds.
Intelligent configurations are a core selling point of the ES9. The higher-end models are equipped with two in-house developed Shenji NX9031 autonomous driving chips, as well as the SkyRide fully active suspension system.
Nio also invited basketball legend Yao Ming to serve as the chief experience officer for the ES9. The company hopes to leverage the global influence of the NBA Hall of Famer to build momentum for the flagship SUV.
Nio delivered a total of 37,705 vehicles in May, setting the company’s highest single-month delivery record so far this year.
Looking ahead, Nio expects its total deliveries for the second quarter to be between 110,000 and 115,000 vehicles. Based on recent performance, its June deliveries are expected to reach 43,000 to 48,000 units.
Deutsche Bank expects Nio’s second-quarter non-GAAP net profit to reach around 180 million yuan ($26.5 million), benefiting from the strong performance of high-margin SUV models.
($1 = 6.7841 yuan)
