Nio will no longer offer the RMB 30,000 option package that included free battery swap service, making the free service a thing of the past.
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Nio (NYSE: NIO) today announced its limited-time offer for customers purchasing its vehicles in August, with the biggest changes including the discontinuation of the option package that includes free battery swap and a reduction in the prices of home chargers.
Starting August 1, the option package that included free lifetime battery swap service will no longer be open for purchase, and customers who pay a deposit between August 1 and August 31 will receive 30 vouchers to experience the battery swap service when they get deliveries, according to the electric vehicle (EV) maker's article posted on the Nio App today.
As a background, Nio's earliest owners were offered unlimited free battery swaps for life, and then the entitlement was scaled down to four per month as the owner base expanded.
On June 12, Nio lowered the starting prices of all models by RMB 30,000 ($4,200), while making the free battery swap service a paid option for RMB 30,000. Nio announced at the time that the service package would be available until July 31.
In addition to discontinuing the RMB 30,000 option, Nio has lowered the prices of its home chargers, with the price of the least expensive 7-kW charger dropping 36 percent to RMB 4,800 from RMB 7,500 previously.
Below are the previous and latest prices of all home chargers currently offered by Nio.
Nio cuts prices for home chargers (in RMB)
| 7-kW AC | 7-kW DC | 11-kW DC | 20-kW DC | |
|---|---|---|---|---|
| Previous Price | 7,500 | 7,500 | 9,800 | 16,800 |
| Current Price | 4,800 | 4,800 | 7,800 | 14,800 |
Owners who repurchase a recent Nio model and have previously installed a 7-kW Nio AC charging post can replace it with a 7-kW DC charger for free at the original installation address.
Customers who have purchased an EV from another brand and have previously installed a 7-kW AC charger can also replace it with Nio's 7-kW DC charger free of charge when purchasing Nio's latest model, according to the company.
Nio continues to offer financial support for customers purchasing a vehicle, including a 0 down payment option with a 36-term annualized rate of 2.99 percent, which translates to an annualized interest rate of about 5.66 percent.
Customers who trade in their previously owned vehicles of other brands for Nio vehicles through the Nio App will receive a Moon kit and orange calipers valued at RMB 8,000 when purchasing the ET7 and ES7.
If they purchase an ET5, ET5 Touring, New ES6, New ES8, EC7 at the time of trade-in, they can receive Nio Credits worth RMB 3,000 upon taking delivery.
($1 = RMB 7.1670)
Nio cuts starting prices by $4,200 for all models and makes battery swap benefits optional
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