BEIJING (Reuters) – Chinese electric vehicle (EV) startup Nio (NYSE:) has set the starting price of a new version of its ET7 sedan at 428,000 yuan ($59,063), its chief executive said on Thursday.
Deliveries of the ET7 have totaled about 30,000 units since deliveries began in late March 2022, Nio CEO William Li said, calling the car the best-selling electric sedan in China with a price above 400,000 yuan.
The new version of the sedan provides seamless screen mirroring and synchronization on both iOS and Android devices, Li said during an event on the Beijing Auto Show’s first media day.
Nio delivered 30,053 vehicles in January-March, down 3.2% from a year earlier, far worse than other EV startups such as Huawei-backed Aito, Li Auto (NASDAQ:) and LeapMotor. which reported double-digit or even triple-digit jumps. in deliveries in the first quarter.
The money-losing automaker, which sells cars in China and Europe through its own stores, announced plans in November to cut its workforce by 10% as it improves efficiency and reduces costs in the face of growing competition.
Earlier this month, Nio founder Lee called for openness in a rare speech in the US amid rising tensions between China and the West over Chinese electric vehicle exports.
To supplement overseas revenues, Chinese electric vehicle companies are increasingly licensing their technology. In February, Nio announced a technology licensing deal with electric vehicle startup Forseven, a division of Abu Dhabi-based investment firm CYVN.
($1 = 7.2464 yuan)