Electric automaker NIO announced on Sunday that price increases are coming due to the “rise in global raw material prices”.
The price changes to the company’s electric vehicles and other products are set to kick in on May 10, 2022.
NIO says the starting price of its ES8, ES6 and EC6 vehicles will go up by 10,000 RMB ($1,571 USD); the starting prices of the ET7 and ET5 will remain unchanged.
For NIO’s battery rental service, the long range battery pack (100 kWh) is now 1,680 yuan ($263 USD) per month. This price increase applies to existing customers who have already purchased a vehicle.
As for the company’s annual battery ‘long life’ pack upgrade service, the price is now 9,800 yuan per year ($1,539 USD).
According to NIO, for those placing a deposit for an ES8, ES6, EC6, ET7 or ET5 before May 9, 2022, vehicle price and battery rental service price increases will not apply.
NIO says customers with questions about their order can call 400-999-6699.
With the prices of EV battery commodities rising due to inflation, plus supply chain pressures, automakers have had no choice but to increase prices, including the likes of its fellow competitors Li Auto, BYD and Tesla.
NIO recently announced its Q1 2022 deliveries, seeing a 29% year-over-year increase. The company recently said it was open to sharing its battery swap technology with other automakers.
