NEV Market Sees New Round of Price Cuts, With Over 6 Companies Reducing Prices

With the entry of Xiaomi SU7 with a starting price of 215,900 yuan, a new round of “price reduction wave” has started in the new energy market, intensifying competition.

On the first day of April, companies such as WM Motor, NIO, and XPeng Motors have successively launched preferential policies or subsidy activities to indirectly reduce prices. Among them, WM Motor’s new M7 is reduced by 20,000 yuan to start at 229,800 yuan; XPeng G9 receives a maximum subsidy of 20,000 yuan to start at 243,900 yuan; NIO‘s 2024 models receive a subsidy for replacing oil cars by 10 thousand yuan; some models from Geely offer up to a maximum discount of 53 thousand yuan for trade-ins. It is worth noting that while the domestic “price reduction wave” continues, Tesla announced an increase in price by 5 thousand yuan for its locally produced Model Y series.

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