$NIO Inc(NIO.US)$ is scheduled to launch its first-ever sedan model, ET7, early next year. The company shared Friday results for the wind tunnel test for the 'model in the works.'

What Happened: Announcing the results, Nio said the ET7 model had achieved a drag coefficient of 0.208, the second-best results for production models worldwide. Incidentally, $Tesla(TSLA.US)$'s Model S Plaid, which it touts to be the lowest drag car on the earth, has the same drag coefficient of 0.208, according to information available on the company's website.

The ultra-low drag coefficient of ET7 will allow a longer driving range and also embodies the company's ultimate pursuit of aerodynamic performance.

With ergonomics and cabin comfort uncompromised, the ET7's front windshield inclination angle, radii, and angles between the headlights and the front fenders, fastback design and ducktail spoiler, C pillar character lines, approach and departure angles, and wheels are optimized to make the model more aerodynamic, the company said.

According to the company, the aerodynamics team has strived to perfect the inclination and radii of the LiDAR and cameras and excelling its aerodynamic performance. The lightweight underbody coverage further boosts the vehicle's aerodynamic performance, making it a perfect combination of aesthetics and aerodynamics.

Alongside the ultra-low drag coefficient that contributes to driving range improvement, the ET7 can achieve a driving range of over 1,000 kilometers with the new 150-kilowatt hour battery.

Why It's Important:  After a solid start to the year, Nio has been under pressure due to the industry-wide issue of semiconductor shortage. The company's deliveries momentum had faltered on account of the chip crunch.

Nio is consistently working toward improving its vehicle lineup and service offerings even amid the extraneous factors impacting its fundamentals. Apart from the ET7, the company is also rumored to be working on a couple of other models.

Moreover, the company embarked on overseas expansion earlier this year. It is all set to launch its ES8 SUV in Norway on Sept. 30.

Price Action: The stock was down 1.92% at $35.32.