NIO’s mid-sized electric sedan, the ET5, is set to launch in the United Kingdom (UK) and will make its debut at the Goodwood Festival of Speed.
NIO UK’s managing director, Matt Galvin, expressed excitement about the ET5’s UK debut at the prestigious event. The ET5 sedan features two motors producing 360 kW of power and 700 Nm of torque, with various battery pack options available.
NIO has established battery swap stations across Europe, offering convenience to ET5 owners. NIO House stores have also been opening in Europe, including locations in Germany and an upcoming store in the UK.
NIO plans to expand to the US market by 2025. In the first quarter, NIO reported a 20.5% increase in EV sales, delivering 31,041 vehicles. Pricing for the ET5 in Europe ranges from €47,000 to €60,000, depending on battery ownership or leasing options, with the latter including unlimited free battery swaps.