Shares of Chinese electric vehicle maker Nio Inc (NYSE:NIO)shot up on Thursday in Hong Kong after the company's latest product launch renewed investors' hope.
At press time, Nio's stock was up nearly 7%, outperforming peers Li Auto Inc (NASDAQ:LI) and Xpeng Inc (NYSE:XPEV) – which were trading on a muted note in an otherwise subdued broader market.
In a virtual product launch event on Wednesday, Nio unveiled its ES7 SUV, which it says offers a superior driving performance, better visual appeal, and a more luxurious feel.
Features: The car comes with Nio's Digital System, which includes smart hardware and a computing platform. The ES7 will also feature the EV maker's latest autonomous driving package.
Price: The ES7 starts at 468,000 yuan ($69,700) for a 75-kWh battery capacity. The 100-kWh battery model is priced at 526,000 yuan.
Nio has also unveiled upgraded vehicle models for 2022, featuring a digital cockpit controller, sensor hardware, enhanced computing and sensing capabilities, and greater flexibility for future functions.
Price Action: According to data from Benzinga Pro, Nio's stock in the U.S. closed 7.77% higher at $20.11 on Wednesday.
Photo courtesy: Nio
