What Happened: Nio said the first validation build of its ET7 sedan has rolled off the production line. The ET7 is Nio‘s first sedan model and fourth vehicle model. It was officially launched at the annual Nio Day event in early January.
Validation builds are vehicles used for testing engineering design and production line processes. Much of the work on the vehicle — including the interior, exterior, electronic system, chassis and battery — are completed at this stage.
The Twitter post announcing this milestone drew several comments, with most having something positive to say about the model. For some it was déjà vu, with a user suggesting the ET7’s validation build resembles Tesla, Inc.’s (NASDAQ: (TSLA)) Model S.
Related Link: After Selling Nio Stake In Q4, Hillhouse Capital Buys Shares Of EV Stock In Q1
The first ET7 body, with the main structure and cover welding assembly, rolled off the production line at the Hefei manufacturing plant April 1.
The company unveiled the interior of the ET7 sedan to the public at the Shanghai Auto show in late April.
The ET7 will come with the Nio Autonomous Driving Aquila super sending system and Adam supercomputing platform.
Why It’s Important: The update from Nio signals that the company is on track to meet the launch schedule. The company announced at the call announcing its Norway expansion that following the launch of ES8 in the country in June, the second Nio model to be sold there would be the ET7.
At last check, Nio shares were rising 1.04% to $34.16.
Related Link: Germany Could Be Nio‘s Next Stop After Norway Foray, Reports Say
Photo courtesy of Nio.
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Nasdaq (TSLA) – NIO Inc. (NYSE:NIO), Tesla Motors, Inc. ((NASDAQ:(TSLA))) – First Validation Build Of Nio‘s ET7 EV Sedan Rolls Off Assembly Line
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