(CNBC) Shares of Chinese EV maker Nio rose more than 3% on Monday after saying it has begun deliveries of its debut luxury sedan, the ET7.
Nio said the deliveries were on schedule and happened after the EV maker started offering test drives in preproduction ET7s in early March.
The EV maker says users in at least 80 cities have tested the new luxury sedan, pointing out that orders have trickled in at a more than expected rate.
ET7 is the first EV of Nio that uses the company’s second-generation architecture, dubbed NT2.0. The technology carries more computing power, thus allowing features such as the advanced driver-assist system.
ET7 is also equipped with a suite of sensors and cameras, such as the integrated lidar sensor.
Nio’s two more models using the NT2.0 architecture, an SUV called the ES7 and a smaller sedan, ET5, will come later this year.
NIO: NYSE is up +3.26%
