Not only in Russia are cars getting more expensive. China’s NIO raised the price of its electric cars by $1,500

If last year cars were getting more expensive because of a shortage of components due to the closure of plants due to the spread of COVID-19, then in 2022 cars are already expensive because of the Ukrainian events, which led to an increase in the cost of materials. Thus, by the beginning of March the cost of a ton of aluminum reached $ 3400, although in the middle of December 2021 the price was at $ 2600. Therefore, cars are becoming more expensive in various countries, including China. A recent example is the electric car manufacturer NIO, which raised the price of its cars by 10,000 yuan at once, that is, by about $1,500.

The ES8, ES6 and EC6 models added in price, but the latest ET7 and ET5 (these are Tesla Model S and Model 3 competitors, respectively) have not yet gone up in price. NIO is at the forefront of China’s electric car industry, with nearly 91,500 electric cars shipped to the market last year, nearly double the number shipped in 2020. In the first quarter of this year, NIO is expected to deliver about 26,000 electric vehicles to the market.

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