Nio Stock Soars Further on SUV Challenge to Tesla Model Y L

• Shares of Chinese EV maker Nio that trade in the U.S. continued to get a boost Friday as the Tesla rival gets ready to launch its challenger to the Model Y L SUV.

• The new ES8 will be priced at about $58,000, but lower for those who sign up for Nio’s battery subscription.

• Nio said the ES8 was the largest electric SUV made in China.

U.S.-listed shares of Nio (NIO) soared 14% Friday to trade at their highest level in nearly a year as the Chinese electric vehicle (EV) maker this week unveiled the new ES8, its SUV challenger to the Tesla (TSLA) Model Y L, and began taking pre-orders.

The company explained that the six- and seven-seat Executive Premium Edition versions of the ES8 would be priced starting at 416,800 Chinese yuan ($58,122), but would be much lower at 308,800 yuan ($43,062) for buyers who also sign up for the NIO Batter-as-a-Service (BaaS) battery subscription service. The cost for the Executive Signature Edition begins at 456,800 yuan ($63,700), or 348,800 yuan ($48,640) with the BaaS plan.

Nio noted that the new ES8 is the largest electric SUV made in China. It said the model “sets a new benchmark in the premium BEV segment and leads the way for large three-row SUVs to the all-electric era.”

The official launch is set for late September.

U.S.-listed shares of Nio traded in negative territory much of the year, but excitement over the ES8 sent shares soaring 9% yesterday, and they’re now up about 45% in 2025. 

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