Chinese electric car company Nio hikes prices, suspends production


Nio said it has suspended production due to Covid-related restrictions in the last several weeks that halted production at suppliers’ factories.

Long Wei | Visual China Group | Getty Images

BEIJING — Chinese electric car company Nio said over the weekend it is raising prices and suspending production as the latest Covid wave added to supply chain challenges.

The company’s Hong Kong-listed shares fell nearly 9% in Monday morning trading.

Nio announced Sunday it would raise the prices for its three SUVs — the ES8, ES6 and EC6 — by 10,000 yuan ($1,572), effective May 10. Prices for the recently launched ET7 and ET5 sedans would remain the same.

Raw material prices, particularly those for…


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