Tesla ‘s Chinese rival NIO has just announced a 30,000 yuan ($4,200) price cut across all its models in China after initially refusing to join the war started by the Musk-led automaker.
Apart from that, the previous complimentary battery swap service is now a paid option.
Price changes
Considering the latest price cut, NIO’s cheapest ET5 sedan now starts at RMB 298,000. However, the base price would be RMB 228,000 if the buyers opt to lease the battery via the BaaS (battery as a service) plan.
On the other hand, the all-new ES6 now starts at 338,000. It would further drop to RMB 268,000 under the BaaS plan. However, as mentioned, the battery swap service is no longer free.
“The adjustments had been discussed internally for quite a while, and we took advice and suggestions from some users. It is the best timing to publish it … but we can’t make everyone happy.”
Nio Chief Executive William Li
Below are the new prices for NIO models in China:
| L,. | Starting Price Including Battery | Starting Price Under BaaS |
| ET5 | ¥298,000 | ¥228,000 |
| New ES6 | ¥338,000 | ¥268,000 |
| ET7 | ¥428,000 | ¥358,000 |
| ES7 | ¥438,000 | ¥368,000 |
| EC7 | ¥458,000 | ¥388,000 |
| New ES8 | ¥498,000 | ¥428,000 |
Other offers
Reservation holders
CnEVPost reported that customers who pay a deposit for any new NIO model from June 12-31 could get the following services for only RMB 30,000 under an upgraded package:
- Free lifetime battery swap service 4 times a month;
- A 10-year unlimited mileage warranty on the vehicle;
- Free lifetime car internet connectivity with 8GB of traffic per month;
- Lifetime free roadside assistance
It also offers a 6-year or 150,000 km warranty for the first owner.
Apart from that, customers who placed a deposit for the all-new ES6 and ES8 models on or before July 31 will qualify for the complimentary home charging pile. They can also upgrade their complimentary battery swap service from only 4 times/month to 6 times/month.
The company also plans to launch new flexible charging and battery swap services.
Meanwhile, NIO will imply that customers who have already placed orders but have not yet received delivery have purchased the upgrade package and will keep the same purchase price. Nonetheless, they can still get in touch with NIO’s specialists to cancel the upgrade package before it is delivered and have the purchase price lowered by RMB 30,000.
For customers that have already received deliveries
Customers who have already received car deliveries will maintain the same benefits as when they first bought their cars. However, they can transfer their benefits from their first purchase to a new model if they decide to buy another one.
It is also worth noting that they can exchange the free battery swap service of 4 or 6 times/month with an RMB 30,000 discount for a new purchase.
Meanwhile, beneficiaries of the initial lifetime free battery swap service can exchange it with an RMB 50,000 discount when they buy a new Nio model.
See Also:
- NIO’s new electric models to launch in Europe on June 15
- NIO global BEV sales dropped 12% in May 2023
- NIO EV sales grew 31% YoY in April 2023
- NIO to exhibit its new ES6 model at the 2023 Shanghai Auto Show
- NIO to begin German delivery operations for its ET5 model by the end of March
China’s electric vehicle industry is seeing increasing competition, especially with the Tesla-led price war. Therefore, it is not surprising why Nio had to join other automakers in implementing price cuts, even if it initially refused to do so.
