Chinese EV maker NIO won’t increase vehicle price in future

OlWestyWin
2022-03-24

$NIO Inc.(NIO)$

Nio (NYSE:NIO) said on Monday that it has no plans to increase the prices of any of its electric vehicle models “in the near term” as it hopes to maintain price stability “for the benefit of customers,” Chinese media outlet Sina Tech reported.

However, the EV maker added that it will remain nimble and flexible when making pricing decisions, given the dynamic changes in EV’s raw materials and chip supply.

Several Chinese electric vehicle companies have raised their prices in recent days, all citing price increases in raw materials.

Li Auto (LI) will hike the price of the company's only model currently on sale by RMB 11,800 ($1,853) to RMB 349,800 from the current RMB 338,000.

Li Auto's local peer XPeng (XPEV) saw its price increases of RMB 10,100 to RMB 20,000 ($3,140) for its models starting March 21.

Tesla (TSLA) raised China-built vehicles prices by 14,200-20,000 Yuan.

BYD (OTCPK:BYDDF) also hiked prices on rising raw materials costs.

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Comments

  • CrystalRose
    2022-03-24
    CrystalRose
    I am bullish on this stock but seeing these bulls getting scared for tomorrow… I hope this stock opens at $25
    • BorisBack: 
      great positive momentum!. it's the same bullish trend when it jumped from 20 to 35 last time.. well looking for 30 soon
    • MyrnaNorth: 
      It doesn't matter what analysts price guidance as long as higher than current stop price n constantly revised upward as Nio spike daily
  • KittyBruno
    2022-03-24
    KittyBruno
    Just hope things get better so Nio continues it's domestic sales but their global expansions is what I'm interested in their next earnings.
    • AfraSimon: 
      A rare previous delivery below expectation lead to unexpected spiked up after that news. With earnings getting better, double spiked is expected.
    • CatherineGunter: 
      Nio is a no brainer here three new high deman cars on their way out soon , new factory and battery swap, very bright future coming ,you will never see this so low again good luck.
    • CyrilDavy: 
      This could go up or down. Up because ev demand, but down because low production with covid lock down.
  • LeilaLynch
    2022-03-24
    LeilaLynch
    I've heard that Nio will have less shares next month from a few different people. Does anyone know why? Are they doing a share buyback?
  • Donkie
    2022-03-27
    Donkie
    No price increases?? Maybe they’ll soon lose money on each vehicle they sell…
  • JONESTea
    2022-03-24
    JONESTea
    Globalization is being undermined, leading to rising production costs.
  • BaronLyly
    2022-03-24
    BaronLyly
    Stock futures up tonight 🤗 With earnings anticipation, going to be a strong day tomorrow 👍
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