Written by Cláudio Afonso | LinkedIn | X
Shanghai-based EV maker Nio introduced on Thursday a limited-time car purchase policy for April, offering five years of free battery swapping, 0% interest financing, and additional benefits to buyers of its 2024 models.
Nio Group said earlier this week it delivered 15,039 vehicles in March, a nearly 27% year-on-year increase. However, sales of the Nio brand fell 13% from a year ago to 10,219 units.
Later this month at the Shanghai Auto Show, the company is expected to unveil refreshed versions of some of its models without raising prices.
The first two— the entry-level ES6 SUV and EC6 coupe SUV — are slated to launch in the first half of May. The ET5 sedan and its wagon variant, the ET5T, are expected to follow in the first half of June.
The latest round of incentives is applicable for orders until the end of the month for customers in China who place a deposit on select 2024 models—including the ET5, ET5 Touring (ET5T), ES6, EC6, ET7, EC7, and ES8.
Customers will receive 240 free battery swap vouchers, applicable over five years, as well as interest-free loans for the same period. In addition to the core financial incentives, the promotion includes up to 10,000 yuan ($1,380) in subsidies for customers choosing battery swap-enabled models.
Buyers who replace older vehicles with new Nio cars are eligible for further benefits, including a trade-in subsidy of up to 15,000 yuan (2,060$) and other local consumption incentives, depending on regional policies.
Customers will also receive three years of free access to Nio’s Navigate on Pilot (NOP+) advanced driver-assistance system, valued at 13,680 yuan ($1,880), according to the company.
The supercar maker McLaren said on Thursday it will incorporate electric vehicle technology from Chinese carmaker Nio as part of the merge with Abu Dhabi’s CYVN Holdings, Nio’s largest shareholder.
Abu Dhabi’s sovereign fund is Nio’s largest shareholder with a 21.7% stake, acquired through a pair of transactions totaling $2.94 billion in 2023.
As of the time of writing, Nio shares are trading 0.8% lower at $3.74 after the U.S. stock market registered the worst day since June 2020 due to concerns about a global trade war after the new round of tariffs announced by U.S. President Donald Trump.
