Price Change

This comes just four months after the bZ4X officially went on sale in China on October 10, 2022.

Neta raised the prices of all its models on January 4, but two days later Tesla sharply lowered the prices of the Model 3 and Model Y in China.

In the package, Nio details the discounts it is offering for models due for a changeover, stock car discounts and cash discounts for NT 2.0 platform models.

Nio's 2022 ES8, ES6 and EC6 models are getting new facelifts and there are still a few show cars and stock vehicles available for sale, it said.

Nio's sales staff said they have never seen such big discounts, but there are not many cars like this available.

Tesla plans to produce an average of nearly 20,000 vehicles a week at its Shanghai plant in February and March, with monthly production roughly reaching September levels, according to Reuters.

By fighting for volume, Xpeng's gross margins will take a hit as costs are not materially lower, Edison Yu's team said.

The move is a normal price adjustment for Xpeng as its vehicle production costs have fallen, a spokesperson told CnEVPost.

Traffic and orders at Tesla stores in China's second- and third-tier cities have increased sharply after the price cut, with orders at stores in some cities up 500 percent from December, according to local media.

Tesla delivered more than 10,000 vehicles in China on the day of the price cut, with Ningbo, Zhejiang province seeing more than 200 Tesla vehicles delivered each day over the weekend just past, media report said.