US Stock Market Move | NIO Inc. Sponsored ADR Class A(NIO.US) surged by 11%. NIO Inc. Sponsored ADR Class A's new ES8 presale price is significantly lower than market estimates.

On Friday, NIO Inc. Sponsored ADR Class A (NIO.US) surged 11%, closing at $6.15. On the news front, in the evening of August 21st, Li Bin announced at the NIO Inc. Sponsored ADR Class A's new ES8 product technology launch event that the new ES8 has started pre-sales. The full vehicle purchase pre-sale price starts at 416,800 yuan, while the battery rental purchase pre-sale price starts at 308,800 yuan. The official launch will be in late September. The pre-sale price is significantly lower than market expectations. On August 22nd, Li Bin, CEO of NIO Inc. Sponsored ADR Class A, in an interview with the media, frankly stated that the new ES8 is just "returning to the pricing range where it should be", and that pursuing higher gross margins will make it "difficult to participate in the current market competition" in terms of quantity and price relationships.