Autos

Chinese electric car company Nio hikes prices, suspends production

0


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…



Source cnbc.com

0 0 votes
Article Rating

Fed’s Harker ‘acutely concerned’ inflation, sees ‘deliberate’ hikes

Previous article

Watch Treasury Secretary Janet Yellen speak live on the global financial system

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Autos