Chinese electric vehicle maker Nio unveiled its new smart executive flagship sedan, making it the second-most expensive China-made new energy vehicle.

The luxury ET9 is available for pre-order at CNY800,000 (USD112,289), with deliveries scheduled for the first quarter of 2025, Nio announced at the Nio Day 2023 on Dec. 23. Only NEV and battery maker BYD's Yangwang U8, priced at CNY1.1 million (USD154,497), costs more.

The ET9 is slightly larger than the market leader, the Mercedes-Benz S-Class sedan, with a length of 5,325 millimeters, a width of 2,016 mm, a height of 1,620 mm, and a wheelbase of 3,250 mm, Nio noted, without disclosing its range.

The ET9 is equipped with many innovative and pioneering technologies, including Nio's first self-developed automotive-grade five-nanometer chip NX9031 that can match four flagship chips in the industry, achieving higher efficiency and lower costs, according to the Shanghai-based company.

The model also has the world's first 900 high-voltage architecture with 46105 self-developed large cylindrical cells to extend its range by 255 kilometers with a five-minute charge, Nio added. It has a SkyRide chassis that integrates steer-by-wire, rear-wheel steering, and fully active suspension to improve handling accuracy and response speed, it noted.

Nio also launched the fourth-generation Nio Power Swap Stations and the 640-kilowatt Liquid Cooled Power Charger at the event. PSS 4.0 is compatible with multiple brands and reduces the overall swapping time by 22 percent. The carmaker will build 1000 Power Swap Stations and 20,000 chargers next year to improve users' experience.