Leapmotor, XPeng, WM Motor, Geely’s Geometry lift price on NEVs

Beijing (Gasgoo)- Several Chinese EV startups all announced price rises on their models, including Leapmotor, WM Motor, XPeng, and Geely’s sub-brand, Geometry, during March 18th-19th.

Photo credit: Leapmotor

Leapmotor, who has just filed for an IPO in the Hong Kong Stock Exchange, broadcasted on March 18th that the guidance price of the entire C11 model lineup will all be lifted, but did not specify the details. Data on its official website showed that the C11 saw an RMB20,000 to RMB30,000 ($3,143-$4,715) increase depending on the trims, up 12% from before.

In the meantime, XPeng officially launched its rumored price rise from RMB10,100 to RMB20,000 ($1,587-$3,143), depending on the models. The price increase has taken effect on March 21st.

On March 19th, WM Motor initiated a price rise on its models, from RMB7,000 to RMB26,000 ($1,100-$4,086). The adjustments will take effect on March 28th. Customers who have secured a deposit beforehand will enjoy the current unadjusted price.

On the same day, Geely’s Geometry also issued a price rise of RMB3,000 to RMB7,000 ($471- $1,100) on its APro, Geometry C, and EX3 models.

Notably, the founder and CEO of Li Auto, Li Xiang, said on his Twitter-like Weibo account that the auto brands who have already lifted their prices are the ones who finalized their contracts with battery suppliers regarding the battery price increment in the second quarter of this year. Those who have yet to issue a price increase will do so as soon as they strike a deal with battery suppliers.