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Li Bin: Nio ES9, not competing with other '9' models

Four hours before the ES9 launch, Li Bin posted an update.

'No trailblazer in any field wants to live in someone else's shadow.'

He was referring to the ES9, as well as Nio. $NIO Inc (NIO.US)$

Amidst the spring rain in Hangzhou, the new member of the Nio 9 series was unveiled and began pre-sales.

The ES9's pre-sale price starts at 528,000 yuan, while the battery rental pre-sale price starts at 420,000 yuan.Three versions will be available: the Executive Luxury Edition, Executive Signature Edition, and Horizon Special Edition, with two layout options — Island and Aisle seating. The new model will officially launch and deliveries will begin by the end of May.

This full-size SUV, measuring 5.3 meters in length and 2.2 meters in width, is larger and wider than the extended version of the Range Rover and longer than the GL8, aiming to create a completely new category — a 500,000-yuan executive flagship SUV.

What are people with a budget of over 500,000 yuan really buying when purchasing a car?

At present, terms like '9-Series' and 'flagship' are frequently appearing. The Wenjie M9, Zeekr 9X, Zee L9, as well as the upcoming Li Xiang L9 Livis and Zee V9, are making their debuts one after another. More and more automakers are beginning to target elite business professionals with a car-buying budget of around 500,000 yuan.

Li Bin said, 'I don't think other '9-Series' models compete with us. The ES9, in the intelligent electric executive SUV category, is truly a pioneer.'

Before jumping into debates, let's first assess whether this market really has enough volume.

According to the 'Deloitte Global Automotive Consumer Study,' vehicles priced between 400,000 and 499,999 yuan account for 22%, while those priced at 500,000 yuan and above represent 11%. Chinese consumers are showing a clear trend of upgrading their car-buying budgets.

So, what are people with a budget of 500,000 yuan buying when purchasing a car?

Qin Lihong, co-founder and president of Nio, said,Beyond the material-level configurations, there's more emphasis on pursuing resonance at the spiritual level. Moreover, the higher-end the product, the greater the proportion of spiritual resonance will gradually become.

This sounds somewhat mystical, and striking the right balance is extremely difficult. Too much can easily lead to manufacturers self-indulging, while too little fails to hit the users' sweet spots.

This delicate balance point is precisely the watershed that tests whether a brand possesses the genes of a high-end label.

At this price range, buying a car isn't just about purchasing a means of transportation; it's an extension of one’s identity and personality, validating the adage: 'A good car speaks for itself.'

If you drive a BMW, chances are you value control and driving experience; if you buy a Mercedes-Benz, you likely prioritize comfort and luxury; if you like Land Rover, perhaps you’re an enthusiast of outdoor freedom.

If new forces still follow the playbook of the old era’s luxury cars, only ramping up features such as paint finishes, lighting, sound systems, or starry sky roofs, then it’s merely a more advanced version of a traditional fuel-based vehicle.

It would be difficult to completely shake the deep-rooted brand perception among consumers, let alone compete with the century-old value system of traditional luxury brands.

Therefore, from the very beginning of the ES9 project, Li Bin required groundbreaking technology—not just piecemeal upgrades but innovation derived from a 'system-wide approach.' In the product launch and subsequent interviews, Li Bin repeatedly emphasized the term 'system.'

He said: 'Many vehicles have top-notch configurations, so why haven’t their sales reached expectations? The underlying reason lies in systemic capability issues—it’s not just about technological innovation.'

The overall architectural advantage of Nio’s NT3.0 third-generation platform gives the ES9 an edge over executive MPVs in the market.

Its second-row interior height reaches 1.37 meters, second-row legroom extends to 1.52 meters, and longitudinal seating space measures 2.8 meters. The total volume of the front and rear trunks is as high as 816 liters. Therefore, at the launch event,Li Bin confidently declared: 'No pressure accommodating six people and 13 suitcases—forget about MPVs.'

Where should a 500,000 yuan car be 'respected'?

The system's capabilities have been carried forward in the design, evolving from the EP9 ten years ago. The front face of Nio, known as the X-Bar, has continued to evolve.

Over the years, external doubts about Nio have never stopped, but few people criticize Nio's design. This time, the Nio ES9 incorporates the concept of Eastern aesthetics and offers seven colors. There are also two exclusive two-tone body options: 'Horizon Dawn' and 'Horizon Galaxy'.

True 'respect' is embodied in the utmost care for people.

The ES9 comes standard with proximity sensors on all electric doors, which can open automatically. Combined with intelligent algorithms for electric assistance, there’s no need to pull the door—just a light push with your finger will do.

World-first array-type LC smart privacy dimming windows,which can transition from privacy mode to full transparency in 17 milliseconds, with 99.8% light-blocking capability. The LC zoning independent dimming array allows step-by-step dimming like a venetian blind.

The second-row executive seats feature an integrated seamless leg rest extending up to 2.3 meters, providing ample lounging space for tall individuals. The four-way electric headrest adapts to the head and neck posture. The footrest includes a 20-point mechanical foot massage, with a lift height of 18 millimeters, supporting dual-zone heating.

An even more detailed design is,the intelligent airflow direction adjustment that follows the position of the second-row seats, and the reading lamp on the seat tray also tracks the light.The rear screen also supports a rotation angle of 65 degrees, creating a considerate and private space with almost no need for manual adjustment.

For the second row, users with executive business needs can opt for an intelligent executive center island, equipped with a smart safe, an extendable table up to one meter, and a magnetic tea tray, directly bringing the business social scene into the car.

True 'respect' is also reflected in the driver's ease of operation.

In this part,The ES9 features the Tianxing intelligent chassis. It includes steer-by-wire which eliminates mechanical connections, and rear-wheel steering with a unidirectional 8.4-degree angle.Together, they reduce the ES9’s turning radius to just 5.4 meters; for reference, the Firefly, which is four meters long, has a turning radius of 4.7 meters.

It also incorporates the world’s first integrated hydraulic full-active suspension, supplied by ClearMotion, a company backed by Nio. By integrating the controller, motor, and gear pump into the wheel-end damper, it enables independent suspension control of all four wheels and even allows movements such as nodding and lateral swaying.

The integrated full-active suspension boasts an extremely fast response speed, capable of making 1,000 torque frequency adjustments per second, delivering an exceptionally smooth ride experience akin to gliding over flat ground for passengers inside.

At the launch event, the ES9 revisited the famous champagne tower scene previously showcased with the ET9, but this time with randomly placed speed bumps—yet the six-tier champagne tower inside the car remained standing tall.

The ES9, similarly, must shoulder the mission of achieving high profit margins.

In early March this year, Nio released its Q4 and full-year financial report for 2025, announcing an operating profit of 1.25 billion yuan in the fourth quarter, marking the company's first-ever quarterly profit since its establishment.

Behind this impressive result, the high-margin all-new ES8 played a significant role in driving success.

As of April 3, the all-new ES8 has delivered 90,000 units, securing the top spot for large SUV sales for several consecutive months.

This directly pushed Nio's average selling price per vehicle to 253,000 yuan in Q4 2025, with the gross margin per vehicle rising to 14.8%.

Some may start to worry that just as the company turned profitable for the quarter, it launched the highly innovative ES9. Is Nio celebrating too early?

Li Bin responded by saying, 'The gross margin of the ES9 will definitely be the best among all SUVs.'

Having survived its 'ICU' phase, Nio still places great importance on ROI (Return on Investment).

A direct example is the choice of battery packs. Currently, the ES9 is only available with a 102kWh battery pack offering a CLTC range of 620 kilometers. In fact, Nio has strong resource support and is fully capable of introducing more battery options, but the company’s current decision-making system operates within clear boundaries, ensuring every investment yields returns.

Moreover, Qin Lihong frankly admitted that the pricing strategy for the ES9 underwent extremely precise calculations, not only taking into account a reasonable profit margin but also preparing thoroughly for potential risks such as fluctuations in raw material prices.

This means that the ES9 also carries the core mission of generating profits for the company.

In the first quarter of 2026, Nio maintained strong market momentum with deliveries reaching 35,486 units. However, Li Bin also stated publicly that entering the third growth cycle, Nio aims to maintain an annual sales growth of 40%-50%.

This time, Li Bin is confident in achieving the set targets. He believes that the ES9 will drive more sales of the ES8.

The ES9 is more oriented towards administrative and business use, while the ES8 covers all scenarios including family, workplace, and company needs. The two models will not cannibalize each other's sales but instead create synergy, jointly expanding the base of the high-end market.

Moreover, starting from the second quarter, new models such as the L90 LiDAR version (tentative name), the refreshed L80, and the five-seat version of the Nio ES8 will be launched successively. This powerful product lineup will collectively support Nio’s ambitious growth targets for 2026.

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