NIO has announced an increase in the price of their electric vehicle in the last month. The latest development, the price increase will also apply to the new model ET7.
Most recently, NIO will raise the starting price of all ET7 variants by RMB 10,000 ($1,470) on May 23. This price increase was caused by an increase in the price of raw materials.
Customers who paid a deposit for ET7 on and before May 22 will not be affected by this price increase. The price of the NIO ET7 after adjustment is RMB 458,000 for the regular version and RMB 536,000 for the pioneer version.
Dozens of electric vehicle companies such as Tesla, Lucid, XPng Motors have raised their prices since March 2022.
In April, NIO announced it would increase prices for vehicles and BaaS battery rentals from May 10, citing higher raw material prices.
The previous NIO production was also hampered by the shanghai lockdown due to the spike in Covid-19 cases
