Chinese electric vehicle startup Nio, Inc. (NYSE:NIO) has sent out an invitation for a virtual product launch event to be held on June 15, CnEVPost reported.
Although the Shanghai-headquartered company did not reveal any details about the event in the invite, it is widely expected that the ES7, and 2022 models of the ES6, ES8 and EC6 will likely be announced, the report said. The company could also share details of new hardware upgrades planned for existing models, it added.
This is the first time Nio is holding a product launch event virtually. This is understandable as Shanghai has recently begun lifting restrictions following the COVID lockdowns.
The ES7, the fifth vehicle model from the company's stable, was originally planned to be launched in April, but COVID led to a pushback.
Nio recently reported first-quarter results showing a wider loss amid a contraction in margin, and also issued lackluster guidance. The new ET7 sedan launched in late March, along with the ES7 SUV and the ET5 sedan, which is expected to be unveiled in September, are expected to give a volume lift for the company.
Nio closed Friday's session at $18.14, down 3.61%, according to Benzinga Pro.
Photo: Courtesy of nio.com