The Chinese EV maker XPENG saw their models price being increased after Chinese Government lowered state subsidies. According to current policies, models that do not support battery swap – like NIO – will not be eligible for subsidies if their price is below RMB 300,000 which makes both Sedans (P5 and P7) plus the G3i SUV excluded from subsidies.
The increase applies on the models that are priced below RMB 300,000 ($47,075) and the change on the final price is about $700 higher on average:
P7 Sedan: RMB 4,300 – 5,900 (between $675 and $926)
P5 Sedan: RMB 4,800 – 5,400 (between $753 and $847)
G3i SUV: RMB 4,800 – 5,400 (between $753 and $847)
Xpeng announced that the consumers who make a deposit until January 10, 2022, will be able to get the same subsidy amount as in 2021. After that date, if the Chinese government does not issue a new policy, they will see a 30% reduction in the subsidies.