[SMM Analysis] NIO Day 2024: NIO ET9 and Firefly Unveiled Together

At NIO Day 2024, the highly anticipated NIO ET9 was officially launched, while the high-end compact car Firefly made its brand debut.

The ET9 was introduced as an "executive flagship." "An executive flagship is always a technological flagship," offering customers an innovative flagship experience across nine dimensions: design, space, comfort, audio, intelligent systems, smart driving, safety, three-electric systems, and driving experience.

With a body length of 5,325mm and a wheelbase of 3,250mm, the ET9 boasts an exceptionally large size. Its short front design ensures more spacious interior room. The Skywalk active suspension system provides a new experience for entering and exiting the cabin, ensuring optimal comfort. The Jiuxiao Sky Harp 8.2.4.8 NIO Immersive Sound System, featuring 35 speakers and 2,800W power with a 10% distortion rate, elevates the audio experience to new heights. The all-new flagship intelligent system Cedar offers exceptional in-car computing performance and supports six-domain integration and cross-domain connectivity. With a maximum vehicle voltage of 925V, peak charging power of 600kW, the Aquila 2.0 sensing system, two NX9031 Shenzi chips, and a smart driving solution based on a world model, the ET9 is undoubtedly the culmination of NIO's decade of technological innovation.

In terms of pricing, the ET9 reflects its high-end positioning as a luxury flagship sedan. The official selling price is 788,000 yuan, with the Baas plan starting at 660,000 yuan. Additionally, a limited edition of 999 units is priced at 818,000 yuan, with deliveries expected to begin in March 2025. "The ET9 will definitely outsell the Audi A8 and BMW 7-series, but competing with the Mercedes-Benz S-Class and Porsche Panamera will be challenging," said William Li, NIO's founder, chairman, and CEO, expressing his expectations for ET9's sales performance.

Meanwhile, the Firefly brand was officially launched. Its unique "Trio" triple-eye headlight design sparked widespread discussion. In terms of vehicle performance, Firefly focuses on flexibility, space practicality, and safety. Features such as a floating screen, dual flat-bottom steering wheels, a 4.7-meter turning radius, all-scenario parking, a 92L front trunk, and nine airbags provide users with comprehensive comfort and safety. The brand's first car model also began pre-sales at NIO Day 2024, with a pre-sale price of 148,800 yuan. Under the Baas plan, the price could drop to the 100,000-yuan range, with plans for market launch and delivery in April 2025.

With the introduction of the Firefly brand, NIO now operates under a three-brand strategy: NIO, Alps, and Firefly. Each brand has a clear market positioning: NIO, as the primary brand, continues to target the high-end EV market; the Alps brand is positioned for the mainstream family market, competing with numerous mainstream emerging car brands; and the Firefly brand focuses on premium compact cars, benchmarking against brands like MINI and smart. The three brands will share resources in software, hardware, and charging infrastructure, collectively driving the development of NIO.