BYDDY - Chinese electric car company Nio hikes prices of its ET7 Sedans

Nio Inc (NYSE:NIO) is raising the price of its premium electric sedan ET7 from May 23 onwards due to an increase in global raw material prices, CnEVpost reported on Friday. The electric vehicle maker said it will hike the starting prices of all ET7 models by $1,470 on May 23. Customers who book the model before May 22 and receive delivery within the year would not be affected by the price change, the company said. ET7 models would be priced at RMB 458,000 for the regular version and RMB 536,000 for the pioneer version. In March, Chinese EV maker NIO had announced it won’t increase vehicle price in near future: report. However, last month, NIO announced it would raise prices for vehicles as well as BaaS battery leases starting May 10, saying it was affected by the continued sharp increase in global raw material prices so far this year. Other EV makers including Li Auto Inc (LI), Xpeng Inc (XPEV), and BYD Co (OTCPK:BYDDY) too had have raised their prices

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Chinese electric car company Nio hikes prices of its ET7 Sedans