Chinas Nio says it wont be raising prices for its

China’s Nio says it won’t be raising prices for its electric cars any time soon

Since the beginning of March, Tesla, Rivian, Lucid, BYD and Xpeng have massively increased the prices of their electric vehicles. The last two operate in China, but want to conquer the European market. Competitor Nio said today that it sees no urgent need to urgently raise prices for its electric vehicles.

Image source: Nio

Image source: Nio

Keep in mind that the sharp rise in the price of nickel and lithium since the beginning of this year has already forced many electric vehicle manufacturers to increase the cost of their products, and if growth has been limited to a thousand dollars at best, at the extreme crossed $10,000 or reached that psychologically important limit, as in the case of Rivian and Tesla.

According to some estimates, the traditional metal kit used to make a lithium battery has increased in price by 64% since the beginning of the year; for a medium-capacity battery, that’s about $2,000. At the same time, building materials became more expensive, and the problem of the shortage of semiconductor components did not go away either and in some cases even worsened. Therefore, EV price increases simply could not be contained to the $2000 required.

edition Reuters reported today, citing the Chinese manufacturer Nio, that it will not increase the prices for its electric vehicles in the near future, but reserves the right to react flexibly to the development of the situation under the given circumstances. The company acknowledges that rising commodity prices, chip shortages and a sharp increase in demand have significantly increased costs in the supply chain.

Nio is less focused on selling electric vehicles with traction batteries rigidly attached to them, and instead offers to top up the range in five minutes with automatic battery-swapping stations that are simply pulled out from under the floor by special manipulators. With a sort of “moving pool” of traction batteries, the company can better pass the cost increase on to buyers’ wallets.


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Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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