Nio, Inc.'s (NYSE:NIO) newest SUV, the ES7, could arrive on time despite the supply and logistics challenges in the wake of the COVID-19 disruptions.
What Happened: Nio's ES7 has been confirmed to be in the catalog of models allowed for public sale that was released by China's Ministry of Industry and Information Technology on Thursday, the CnEVPost reported.
The ministry released a preliminary list in early May to allow public opinion on the proposed models.
The latest release from the ministry also divulges ES7 specifications: four ranges of 440 km, 485 km, 620 km, and 575 km; powered by battery packs of capacity 70 kWh, 75 kWh and 100 kWh; dual electric motors.
The model's length, width and height are 4,912 mm, 1,987 mm and 1,720 mm, with a wheelbase of 2,960 mm.
Related Link: Is Chinese EV Maker Nio Planning To Manufacture In US?
Why It's Important: Nio, along with the rest of the electric vehicle makers operating out of China have suffered from the impact of the lockdowns put, in response to the renewed outbreak of COVID-19 in China.
Nio had to push back the launch timeframe of the ES7 from the originally planned schedule of April. The company reportedly told users that launch-related work is ongoing and the ES7 will be launched once lockdowns lift in Shanghai.
The ES7 will be Nio's fifth vehicle model and will likely help the company recover from the volume weakness it experienced in 2021.
Nio closed Thursday's session 7.29% higher at $18.85, according to Benzinga Pro data.
