Chinese EV Maker NIO Increases Prices, Announces Production Halt
Apr 18, 2022
Like many companies across the world that rely on the global supply chain, Chinese electric vehicle maker Nio has revealed that it has been hit hard by the supply chain disruption caused by the coronavirus pandemic. Over the weekend, Nio announced that it would be raising the prices of the three electric SUVs it has on the market and halt production in the meantime. Nio’s shares fell by almost 9% following the announcement.
Beginning May 10, Nio will increase the prices of its EC6, ES6 and ES7 by $1,572 (10,000 yuan). However, the recently unveiled ET5 and ET7 sedans will cost…
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