Those who have been looking to buy a Model Y lately can wait a little while, as Alps' first model is certainly cheaper, said Nio's William Li.
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Nio Capital-backed EV-Tech and Nio will jointly develop products based on Nio's STEM Young high-voltage architecture, with deliveries to the Nio brand and Nio's second brand expected to begin in 2025.
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The discount is a continuation of a February offer that lowered the G6's starting price to 189,900 yuan.
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The new Aion Y Plus starts at RMB 99,800, RMB 20,000 lower than the previous entry-level price.
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Nio's latest NOP+ could be used outside of Greater China, further demonstrating its algorithm's ability to adapt to different traffic rules and driving scenarios, Morgan Stanley said.
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The Leapmotor C10’s official pricing is significantly lower than it was at pre-sale, and updated versions of existing models see price cuts across the board.
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The financing will be used for next-generation model development, smart driving technology development and entry into overseas markets.
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Li Auto reiterated the company's confidence that the Li Mega will be the top seller in the car market with a price tag of more than RMB 500,000 yuan.
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BYD saw a drop in NEV sales in February as the New Year holiday brought disruptions.
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Nio delivered 8,132 vehicles in February, down 33.11 percent year-over-year and 19.12 percent from January.
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