NIO announces plan to raise vehicle prices

Shanghai (Gasgoo)- NIO will increase prices of some vehicle models on May 10 due to the continuous hike in raw materials prices globally, the EV startup announced today via the NIO App. The move came only 16 days after the company said it had no such plans.

Photo credit: NIO

According to NIO's adjustment scheme, the entire lineups of the ES8, the ES6, and the EC6 will record a price increase of 10,000 yuan ($1,572). Meanwhile, the starting prices of the ET7 and the ET5 will still remain unchanged.

Besides, the service fee for renting a long-range battery pack will be lifted to 1,680 yuan ($265) per month from 1,480 yuan ($230) per month, while the fee for a standard-range battery pack rental, which currently stands at 980 yuan ($155) each month, will not be changed.

What's more, the annual price for flexible upgrade to a 100kW battery pack will be increased to 9,800 yuan ($1,540) from 7,980 yuan ($1,255), while the users who pay for the service on a monthly basis will not be affected.

NIO noted that the aforesaid adjustments would not influence the customers who pay the deposits before May 10.

Just one day before announcing the price rise plan, NIO stated on its mobile app that it had suspended vehicle production as the operations at its suppliers in such places as Jilin, Shanghai, and Jiangsu were disrupted by the pandemic reason.