LI - Chinese EV maker NIO won't increase vehicle price in near future: report - South China Digital Edition

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

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Chinese EV maker NIO won’t increase vehicle price in near future: report - South China Digital Edition