Declining electric vehicle sales in China and the price war Tesla started earlier this year Nio, lowered the price to return to growth. The bad news is that this is also for new owners free battery replacement service That means it’s over because the company still needs to balance its budget. Currently, the company offers its current users at least a monthly four free battery replacements and this incurs significant corporate costs.
From June 12, the company sells all its vehicles for RMB 30,000 (3.900 €) will sell at a discount, including ES6 and ES8 sports gear. Price reductions will also range from 6% to 9% depending on the model.
Additionally, buyers who deposit from June 12 will no longer be eligible for a free battery swap. That’s because the company is under scrutiny by investors who claim the service is reducing profitability. Nio had a net loss of RMB 1.8 billion (€ 235 million) in the first quarter of 2022, while the net loss in the first quarter of this year increased to RMB 4.7 billion (€ 613 million).