On May 28, NIO CEO Li Bin told reporters at the "NIO ES9 media face‑to‑face" that since the start of this year prices for raw materials such as nickel, cobalt and lithium carbonate have risen, pushing up per‑vehicle costs by just over 10,000 yuan. He said the price moves affect not only the auto sector but also faster‑growing, better‑capitalized industries because they involve bulk commodities and memory chips, leaving automakers with little bargaining power. Memory prices rose earlier this year

On May 28, NIO CEO Li Bin told reporters at the "NIO ES9 media face‑to‑face" that since the start of this year prices for raw materials such as nickel, cobalt and lithium carbonate have risen, pushing up per‑vehicle costs by just over 10,000 yuan. He said the price moves affect not only the auto sector but also faster‑growing, better‑capitalized industries because they involve bulk commodities and memory chips, leaving automakers with little bargaining power. Memory prices rose earlier this year and have not fallen; Li said raw‑material‑driven cost increases are unlikely to decline in the short term and companies will have to absorb those costs.