Nio shares hit nearly 1-year high in Hong Kong as optimism over 3rd-gen ES8 continues

• Since the new- generation ES8 debuted on August 21, Nio shares have jumped about 33 percent over three trading days in Hong Kong.
• The increased traffic for the new ES8 has further boosted interest in the Onvo L90.

Nio Inc (NYSE: NIO) shares traded in Hong Kong continued to surge, driven by ongoing optimism following the debut of the third-generation ES8 SUV (sport utility vehicle).

As of this writing, Nio shares in Hong Kong had risen 13.09 percent to HK$51.75, marking a new high since October 8, 2024.

This brings Nio’s stock price increase over the three trading days since the new-generation ES8 debuted on August 21 to about 33 percent.

Since July, Nio has risen by about 90 percent in Hong Kong, with the launch of the flagship SUV L90 from its sub-brand Onvo sparking the first wave of optimism.

Nio debuted the third-generation ES8 on August 21 and began pre-sales for the large SUV.

The updated ES8 comes standard with a 100-kWh battery pack, with a starting price of RMB 416,800 ($58,190) during the pre-sales period, including the battery pack.

This represents a decrease of RMB 139,200, or 25.04 percent, compared to the starting price of RMB 556,000 for the older 100-kWh version of the ES8.

Under the BaaS (Battery as a Service) battery rental plan, the starting price for the third-generation ES8 is RMB 308,800, lower than the RMB 428,000 BaaS starting price for the older ES8 with a 100-kWh battery pack.

While the price has significantly decreased, the new-generation ES8 is larger in size and boasts more advanced features than its predecessor, including the Nio-developed Shenji NX9031 autonomous driving chip and two additional LiDARs.

The third-generation ES8’s aggressive pricing and enhanced features have driven unprecedented traffic to Nio stores and also boosted Onvo’s brand awareness.

On August 22, the second day after the new ES8’s debut, which was a Friday and a workday, Nio stores were particularly busy, with customers still being served at 3 am on August 23, according to Nio founder, chairman, and CEO William Li on Weibo.

Yesterday, Li mentioned in a new Weibo post that Nio stores remained crowded with visitors checking out the new-generation ES8, including many who had never purchased a Nio product before.

The increased foot traffic for the all-new ES8 has further boosted interest in the Onvo L90, with many people also visiting Onvo stores, according to Li.

“Real-world market feedback proves that the golden age of pure-electric three-row SUVs has arrived!” Li said.

($1 = RMB 7.1624)

R&D costs are spread across multiple models, and greater scale has helped Nio reduce costs.