Nio ET5 2024: Prices, specs and release date

• New Nio ET5 electric fastback to challenge the Tesla Model 3
• Power of up to 490PS and range of up to 366 miles
• Unique battery swap technology to make long journeys easier
• UK release from late 2024 with prices likely to start from around £55,000

The new Nio ET5 is a high-performance electric fastback that has the Tesla Model 3 firmly in its sights.

The new Nio ET5 has sporty performance from a 490ps power output. It is offered with a choice of two battery sizes and will be able to use the Chinese premium brand’s unique battery swap facilities.

The new Nio ET5 is also marked out by its high-tech interior, complete with vivid PanoCinema digital cockpit and Nomi AI virtual assistant.

Other rivals for the new Nio ET5 include the BMW i4, the impressive Polestar 2 plus the excellent Hyundai Ioniq 6 and Kia EV6.

2024 Nio ET5 prices and release date

The new Nio ET5 is already on sale in China, along with some European markets including Germany, Denmark, the Netherlands, Norway and Sweden.

The new Nio ET5 is set to be released in the UK too, but no date has yet been confirmed. Experts suggest it will be launched in late 2024.

New Nio ET5 prices will mirror rivals including the Tesla Model 3 and BMW i4. The range is likely to start upwards of £55,000.

2024 Nio ET5 styling, interior and technology

The new Nio ET5 is a sleek fastback-style four door. It has ultra-slim LED headlights, smooth and simple lines, and a roofline that gently flows rearwards. It shares styling cues with its arch-rival, the Tesla Model 3.

The new Nio ET5 has distinctive bulges above the windscreen that house some of the 33 ‘information gathering’ units around the car which feed the autonomous driving tech – it’s called Nio Autonomous Driving, or NAD. The system will be enhanced by over-the-air updates.

Size-wise, the new Nio ET5 measures 4790mm long, 1960mm wide and 1499mm tall. It is around 100mm longer than a Tesla Model 3. The new Nio ET5 will be offered in a modern range of colours, including First Light Kiss and the Sunbathe Yellow seen here.

Inside, the new Nio ET5 aims to offer a “second living room” rather than a traditional car interior. The emphasis is on a warm, welcoming appearance, in contrast to the cooler and more sporty approach of some rivals.

Neat details inside the new Nio ET5 include ‘invisible’ air vents, flush doorhandles and convenient soft-close doors. It also has stylish frameless windows. The new Nio ET5 uses sustainable materials including Clean+ sustainable fabric made from recycled bottles.

The new Nio ET5’s panoramic digital cockpit is dubbed ‘PanoCinema’. It comprises a 12.8-inch AMOLED centre display and a 10.2-inch HDR instrument cluster. Nio says the hardware is cutting-edge and the software will be continuously developed.

The new Nio ET5 has a 256-colour ambient light feature, premium Dolby Atmos 7.1.4 surround sound and a novel AI virtual assistant called Nomi. Its ‘face’ is displayed in a round display on top of the dashboard. Nio says it is much more sophisticated than most in-car virtual assistants.

A huge panoramic glass roof bathes the new Nio ET5 interior in light. It doesn’t have a sunshade, but is instead covered in a special coating that blocks out 99.9% of harmful UV light rays.

The new Nio ET5 has a 386-litre boot. The space is a bit shallow, as is the boot opening, but the load bay is wide and long. A more practical new Nio ET5 Touring has also been shown.

2024 Nio ET5 electric motors, performance and battery range

The new Nio ET5 is initially available in top-spec twin-motor guise. The front and rear electric motors combine to offer a total power output of 490PS. This gives 0-62mph performance in 4.0 seconds and an electronically-limited top speed of 124mph.

The new Nio ET5 will be offered with two different batteries. The 75kWh Standard Range battery will have a range of 283 miles. The 100kWh Long Range battery will have a range of up to 366 miles. These figures are helped by a slippery Cd drag coefficient of just 0.24.

Rapid charging isn’t the most powerful, at 130kW, but the new Nio ET5 will also be able to use one of the Nio Power Swap Stations planned for the UK. Here, a battery can be swapped in under five minutes. Nio says a battery swap happens every 1.6 seconds across the world.

The new Nio ET5 has a well-specced chassis including high-performance four-piston brake calipers. It can stop from 62mph in just 33.8 metres. Nio quotes high levels of torsional stiffness and an ultra-low centre of gravity.

The new Nio ET5’s various sensors and radars will give an array of assisted and intelligent driving functionality. Tech including Nio Aquila Super Sensing and Nio Adam Super Computing “will gradually achieve a safe and reassuring assisted and intelligent driving experience in scenarios such as highways, urban areas, parking and battery swapping”.