NIO's ES8 Deliveries Begin This Week: Can It Compete With TSLA and LI?

NIO Inc. NIO has started sending its third-generation ES8 electric SUVs to delivery centers across China ahead of the official Sept. 20 launch. Photos shared on Monday showed the new crossovers being loaded onto car carriers at the Hefei factory, confirming that nationwide deliveries will begin right after the sales go live.

Pre-sales of the three-row ES8 began on Aug. 21, and early demand appears strong, with pre-orders surpassing those of NIO’s ONVO L90 model, as confirmed by NIO President Qin Lihong.

The new ES8 is designed for those seeking a high-end experience. Prices range from 416,800 to 456,000 yuan (roughly $58,500–$64,110), but with NIO’s Battery-as-a-Service option, the entry-level trim can be purchased for 308,800 yuan ($43,340). This is a notable shift from the second-generation ES8, which started at 518,000 yuan ($72,820), making the new model way affordable than its predecessor while retaining its premium feel.

The ES8 model comes standard with a dual-motor 4WD setup producing 520 kW (697 hp) and 700 Nm of torque, allowing the SUV to sprint to 100 km/h in just four seconds. A 102-kWh battery pack offers a CLTC range of 635 km, consuming 16.6 kWh per 100 km. The vehicle also includes advanced technology, such as a LiDAR sensor and two roof-mounted cameras, across all trims.

The ES8 is expected to give a significant boost to NIO’s brand sales and reinforce its position in the increasingly competitive EV market. NIO is targeting roughly a 20% gross margin on the ES8, supported by in-house innovation and tight cost control. The fourth quarter will mark the first full quarter of ES8 sales, with the company aiming to deliver 50,000 vehicles across each of its brands — NIO, ONVO and Firefly.

Competitor Check

Tesla TSLA and Li Auto LI are set to give NIO’s ES8 strong competition, both offering six-seat layouts and competitive pricing.

Tesla’s Model Y L in China is a long-wheelbase, six-seat version of its popular SUV. The “L” adds extra legroom, making it more family-friendly. Tesla priced the Model Y L at 339,000 yuan, below the 400,000 yuan many had expected for the extended model.

Meanwhile, Li Auto introduced its Li i8 in late July, another six-seat family SUV. The Li i8 blends off-road capability, sedan-like handling and MPV-level comfort, targeting buyers who want versatility without compromising on luxury or performance. It is available in three trims — Pro, Max, and Ultra — priced at 321,800, 349,800, and 369,800 yuan, respectively.

NIO’s Price Performance, Valuation and Estimates  

Shares of NIO have surged over 60% year to date compared with the industry’s gain of 5%.

From a valuation standpoint, NIO trades at a forward price-to-sales ratio of 0.83. It carries a Value Score of D.

Take a look at how the Zacks Consensus Estimate for NIO’s earnings has been revised over the past 90 days.

NIO stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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