Tesla, Chery Auto lift price on NEVs, XPeng said to raise price in days

Beijing (Gasgoo)- On March 17th, Tesla issued a price rise on the Model Y RWD in China, marking the EV maker’s third price increase within a week. 

Photo credit: Tesla

According to Tesla’s website, after the price adjustment, the RWD trim of the Model Y is priced at RMB316,900 ($49,920), indicating an RMB15,060 ($2,372) increase from before. Notably, due to the sudden COVID-19 outbreak in Shanghai, the Tesla Shanghai Gigafactory is currently in a two-day production halt since March 16th.

In fact, Tesla is not the only new energy vehicle maker in China to announce a price rise today. With the raw material price premium and the incoming government subsidy withdrawal, Chery Auto also issued a price rise on its EQ1 (little ant) and the QQ Ice-cream models. 

Moreover, XPeng is also reportedly lifting its product price starting March 21st. According to messages exposed on the internet, the P7 model will see an RMB20,000 ($3,150) increase, while the prices of the P5 and the G3i will go up by RMB10,000 ($1,575). 

Gasgoo reached out to XPeng, and the EV maker said that they are not clear with the information.

Significantly, if the rumor turns out to be true, the adjusted prices of a couple of P7 trims will surpass RMB300,000 ($47,258). In other words, the said trims will no longer entitle China’s new energy vehicle subsidy.