A number of Chinese electric vehicle manufacturers have signaled price
increases or reduced discounts, with more than 10 automakers adjusting pricing,
cutting incentives or planning hikes in Q2, according to Beijing Daily.
BYD raised prices of selected smart driving optional packages by over 2,000
yuan, while Changan Qiyuan increased prices of its intelligent laser edition by
3,000 yuan. Xiaomi raised prices of its new SU7 lineup by 4,000 yuan. Tesla
increased prices of its Model Y Long Range and Performance variants by 18,000
yuan and 20,000 yuan respectively. NIO and Xpeng also indicated plans to raise
prices in Q2. Tesla, Zeekr and Avatr have tightened zero-interest financing
schemes, effectively increasing purchase costs. (Source: Beijing Daily)
