The new flagship vehicle for the EV brand will be the premium sedan.

A full-sized luxury car from Chinese automaker NIO, which will compete with the Lucid Air and Mercedes EQS

The car, which is expected to cost over 1,000,000 ($143,406), would be NIO's new flagship model

NIO currently makes five models: two sedans and three crossovers/SUVs. Currently

the top model in the NIO portfolio is the ET7, a Tesla Model S-sized sedan with a range of up to 621 miles

But this brand-new flagship will surpass it. The model, which will purportedly be unveiled in 2024 

NIO was founded in 2014 and has already sold over 300,000 electric vehicles (EVs) in the Chinese market.

The company began operations in Norway in late 2021

with a view to growing throughout the rest of Europe. 

Established way back in 2007 however just zeroing in on customer items beginning around 2016

In the meanwhile, the manufacturer plans to grow in Australia and Japan in the upcoming years.

There are currently no launch dates set for the American market. 

NIO, though, reportedly plans to be in the US by 2025, according to a report from August

In addition, NIO has begun employing US-based employees and is currently renting a sizable space in San Jose, California.