NIO (NIO) Allows Customers to 'Lock In' ES7 Orders

Chinese electric vehicle maker, Nio Inc. (NYSE: NIO) began allowing customers to “lock in” orders for their new SUV ES7 today at 8pm (8am EST).

The announcement was made through an article posted on the company’s app that customers who have already paid the RMB 2,000 ($300) ES7 reservation deposit will be able to convert that money into an official deposit when they lock their orders. Consumers who have not yet reserved an ES7 can pay the RMB 2,000 deposit directly.

For individuals who pre-order the ES7 now and have it delivered within the year, they will receive a subsidy of RMB 11,340 for the NIO ES7 with the 75-kWh battery pack if they choose 20-inch wheels, and RMB 12,600 for the 100-kWh battery pack version. If they choose the 21-inch wheels, the subsidies are RMB 9,072 and RMB 10,080 respectively.

According to the article, deliveries of the model are expected to begin on August 28 in the order of order lock-in time and reservation payment.

By Michael Elkins

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