Nio president and co-founder Qin Lihong said the company would launch a major product on Nio Day in December 2023. According to a media source familiar with the matter, it will be a RMB 1 million (US$ 140,000) luxurious electric sedan to compete with the Maybach S class in China.

Last December in 2022, Chinese media reported Nio was developing its most expensive car, an ultra-luxury Maybach-like electric vehicle that will be unveiled in 2023.

Nio chief executive officer (CEO) William Li previously announced that it would not launch any new product in 2024. According to China car reviewer from media, a former Nio employee, the new sedan will be launched in 2025.

Nio Day will be held in Xi'an in December; the exact date hasn't yet been announced. According to local media, the flagship sedan will have a Nio badge and won't be operated by any sub brands coming in 2024 (Alps, Firefly) dedicated to entry-level vehicles.

According to media, the new saloon will sit on Nio's new NT3 platform, being the first EV to be equipped with Nio's self-developed autonomous chip.

It will also have an extra long wheelbase of 3.3 meters. It is so long it will be on the upper limit of what a third-generation Power Swap Station (PSS) can handle. This means it won't be possible to battery swap in 1.0 or 2.0 gen PSS.

Nio unveiled a new generation 300 kW motor in August, and the new flagship EV will almost certainly feature it.