Initially, NIO offered a subscription model as the only option for owning one of its EVs. At the end of November 2022, the Chinese EV maker started offering purchase options starting at 49,900 euros for the ET5 in Germany. Mind you, this price doesn’t include the Li-Ion battery, which needs to be leased or purchased separately. You’d have to pay another 12,000 euros for the 75-kWh battery or 21,000 euros for the 100-kWh pack.
Perhaps NIO realized that few people would buy the ET5 at this price, so it decided to slash 2,400 euros off the sticker price. Even so, the NIO ET5 remains less competitively priced compared to its main rival, the Tesla Model 3. The American sedan starts at 43,990 euros in Germany and has a battery included. Even the Model Y is cheaper, at 44,890 euros.
Customers who opt for a subscription instead of a purchase are offered two plans. The smaller, 999-euro plan includes a 75-kWh battery and everything you need, like insurance, road assistance, and battery swaps. The bigger plan at 1,170 euros per month has similar benefits but includes the 100-kWh battery. Both plans cover a 1,250-km/month (780-mi/month) mileage, while everything above this threshold costs 0.22 euros/km extra.
NIO hopes that, somehow, the freebie package offered to the early adopters, worth around 1,800 euros ($1,965), would make the ET5 more desirable. According to a promotion rolling out in Germany, the first customers to order the ET5 will get a free NOMI Mate voice assistance system (600 euros/$655) and an electric folding trailer hitch (1,200 euros/$1,310).
NIO also opened a new NIO House in Frankfurt on March 30, the second flagship showroom after the one it opened in Berlin last December. NIO Houses are showrooms on steroids, allowing customers to experience not only the cars but also the NIO way of life. The Chinese startup is also working on deploying the third generation of its automated swap stations, which offer more capacity, with up to 21 battery packs available to customers. Fast charging options mean these new stations can serve up to 408 swaps per day, a 30% improvement over the previous generation.