Nio surges 12% after unveiling new ES8 SUV model

[SINGAPORE] Shares of electric vehicle (EV) manufacturer Nio rose by more than 9 per cent in early trade on Friday (Aug 22) on the back of its unveiling of a new ES8 sport utility vehicle (SUV).

The counter jumped 7.2 per cent to US$5.63 at 9.03 am, before easing to US$5.60. By 9.31 am, it had climbed to US$5.71; it then rose to US$5.77 a minute later, up 9.9 per cent on the day.

Nio ended Friday up US$0.63 or 12 per cent at US$5.88.

The Chinese EV maker on Thursday unveiled its All-New ES8 and opened the new flagship model for pre-orders. Six- and seven-seater variants of its “executive premium edition” are priced from 416,800 yuan (S$74,825), or from 308,800 yuan with a battery-as-a-service subscription plan from Nio.

Mainboard-listed Nio said the All-New ES8 is the largest battery electric SUV in China.

It will be powered by the company’s latest 900-volt full-domain high-voltage architecture and a standard 102 kilowatt-hour (kWh) battery. Its dual motors generate 520 kW of power and 700 Newton-metres of peak torque, requiring 3.97 seconds to accelerate from a standstill to 100 km per hour.

The first generation of the ES8 was unveiled in December 2017, with production beginning in 2018.

The All-New ES8 will be launched in late September 2025, the company said, adding that user deliveries will begin upon its launch.

The Business Times reported on Monday that Nio has appointed motor vehicle retailer Wearnes Automotive as its distributor in Singapore, in addition to a Malaysian distributor expected to be signed soon.

The move signals a step towards the EV maker’s debut in South-east Asia, on top of plans for wider global expansion.

Nio said on Monday that retail operations in Singapore will begin in the first quarter of 2026.