NIO Announces Price Reduction and Adjustments to Owner Benefits

On June 12, Chinese electric vehicle (EV) manufacturer NIO has announced a price adjustment across its entire range of vehicles and a change to the benefits for first-time car owners. The starting prices of all vehicle models have been reduced by ¥30,000 ($4199). The updated benefits for new car buyers include a 6-year or 150,000-kilometer warranty for the whole vehicle, with the electric system enjoying a 10-year unlimited mileage warranty. Additionally, owners will receive 6 years of free in-car internet service and lifetime free roadside assistance.

The company also stated that from June 12th, free battery swaps will no longer be part of the basic ownership benefits. Instead, customers can choose to pay per swap, and NIO will introduce flexible charging and power replenishment packages. However, existing owners, including those who enjoy lifetime free battery swaps, will retain their current benefits. When purchasing a new NIO vehicle, customers can choose to transfer the benefits from their old vehicle to the new one or give up the benefits to deduct ¥30,000 ($4199) to ¥50,000 ($6998) from the purchase price.

Last month, the new NIO ES6 was officially launched, with a selling price between ¥368,000 ($51509) and ¥426,000 ($59627), ¥18,000 ($2519) lower than the starting price of the 2022 ES6 model. This is despite previous statements from NIO CEO Li Bin that the company would not reduce prices.

SEE ALSO: NIO Offers Free Battery Swapping on Highways During Labor Day Holiday

In April this year, NIO announced changes to its customer purchase benefits. Starting from June 1st, customers who pay a deposit to buy the NIO ET7, ES7, EC7, and ET5 models, as well as those who pay a deposit from August 1st for the new ES8, will have to pay for the installation of charging stations. The number of free battery swaps per month has also been adjusted to four. Prior to this, first-time owners of new NIO vehicles could choose to receive six free battery swaps per month or get a free home charging station and four battery swap benefits.

Furthermore, the free trial of the test version of NIO‘s NOP+ intelligent driving assistant system will end on June 30th. From July 1st, NOP+ will be upgraded to the official version and start accepting subscriptions, with a subscription price of ¥380 ($53) per month. ET7, ES7, EC7, and ET5 customers who took delivery or paid a deposit before May 31st, as well as new ES8 customers who paid a deposit before July 31st, will receive two years of NOP+ for free.