NIO Launches ES9 SUV, Reports First Quarterly Profit

NIO Inc., the Chinese electric vehicle manufacturer, saw its shares rise sharply before pulling back on Thursday amid the launch of its flagship ES9 SUV and reports of its first quarterly profit. The stock climbed as much as 8 percent during the day but closed down 4.9 percent at $6.07 in New York trading, reflecting investor reactions to the new model's potential in a competitive market.

The ES9, described by NIO as China's largest battery-electric SUV, entered preorders on Thursday with a starting price of 528,000 yuan including the battery, or 420,000 yuan under the company's Battery-as-a-Service plan, which separates the battery cost to lower upfront expenses. Deliveries are set to begin in June. The vehicle incorporates NIO's in-house Shenji smart driving chips, a 5-nanometer technology that reduces reliance on external suppliers like NVIDIA and enables features such as steer-by-wire, rear-wheel steering, and peak charging speeds of 600 kilowatts. NIO Chief Executive William Li announced the preorders on LinkedIn, calling the ES9 a "masterpiece" shaped by 11 years of innovation.

The launch coincided with strong delivery figures that bolstered optimism. NIO reported 83,465...