Nio on Saturday revealed its second fully electric premium sedan model ET5, featuring an automated driving system, a fresh design, and a lower price point, to reach a larger customer base.
Why it matters: Speaking to reporters on Dec. 19, chief executive William Li said he expects the Nio ET5, which is priced 25% cheaper than the brand’s first sedan model ET7, will help the company attract more younger and female buyers.
Details: The new ET5 sports sedan comes with the same hardware package as the ET7, including a dozen ultrasonic sensors, 11 cameras, a Lidar unit, and Nvidia’s Orin autonomous driving processors, which allow the vehicle to detect its surroundings using supercomputing power.
- The new sedan comes in a rainbow of nine different hues, including a soft pink, the first time Nio has used such a shade for its models.
- It also features an in-car information and entertainment system…