China EV maker Nio says has no plans to raise prices in short term

Auto Shanghai show in Shanghai
FILE PHOTO: People visit the Nio booth during a media day for the Auto Shanghai show in Shanghai, China April 20, 2021. REUTERS/Aly Song

March 21, 2022

SHANGHAI (Reuters) – Chinese electric vehicle (EV) manufacturer Nio said on Monday that it had no intentions to raise prices in the short term, but that it would be flexible on its decision making given evolving circumstances.

Nio said in a statement that raw material prices and chip supply and demand were causing large changes to supply chain costs.

(Reporting by Brenda Goh; Editing by Muralikumar Anantharaman)