NIO suspends production and increases prices due to COVID-19

Tesla isn’t the only electric vehicle (EV) automaker suffering from the effects of the recent surge in COVID-19 cases in China.

NIO has announced that production at its manufacturing facility in Hefei has been shutdown because of lockdowns causing supply chain issues.

The automaker announced the shutdown through its mobile app on the weekend.

“Since March, due to reasons to do with the epidemic, the company’s supplier partners in several places including Jilin, Shanghai and Jiangsu suspended production one after the other and have yet to recover. Due to the impact of this NIO has had to halt car production,” the company said in the statement.

NIO added that deliveries will also be delayed.

“There will be a delay in the delivery of vehicles for many customers in the near future, and we ask for your understanding.”

A production shutdown is not the only impact on NIO. The automaker also announced an increase in prices due to rising prices of raw materials.

Starting on May 10 prices for all versions of NIOs SUV will increase by ¥10,000 ($1,980 CAD).

The ET5, which has yet to begin deliveries, and ET7 sedan, which only started deliveries last month, will not see any price increases.

NIO’s battery rental prices will also increase from ¥1,480/month to ¥1,680 per month for the long range version. The annual payment option will also increase from ¥7,980 to ¥9,800.

William Li, founder, chairman and CEO of NIO said there was no way for the company to avoid making the changes, and asked for customer’s understanding.

“The price increases are because there is no choice, and please understand,” he said. (via CnEVPost)

NIO in talks to license its battery swapping technology

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