Chinese electric car maker Nio (NIO) on Saturday unveiled a flagship model featuring self-developed technologies including semiconductors, betting they would help prop up earnings, as a bruising price war and slowing car demand weigh on profitability, according to Reuters. The ET9 executive sedan, positioned in the same class as Mercedes Benz’s (MBGYY) Maybach and Porsche’s (POAHY) Panamera series, is expected to start delivery in the first quarter of 2025 at an estimated price of 800,000 yuan, or $112,178, Nio’s founder and chief executive William Li said at the company’s “Nio Day” annual event.
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