Price Cut

The LS6 went on sale in October 2023 and is a Tesla Model Y competitor.

There's no specific deadline for these discounts until the 2023 models are sold out. Nio will begin delivering 2024 models in March.

Some Li Auto stores saw a significant uptick in sales just this past weekend, and some trim levels are no longer available for delivery before the Chinese New Year, according to local media.

Nio's move comes at a time of increasingly fierce price competition in China's EV market, which is also making model refresh cycles shorter.

Li Auto is offering discounts ranging from RMB 35,000 to RMB 38,000, depending on the model, local media said.

Tesla today lowered the prices of all two versions of the Model 3 by nearly 6 percent, and two of the three versions of the Model Y by nearly 3 percent.

Chery New Energy has slashed the official guide prices of its cheaper Little Ant and QQ Ice Cream models by 7.7 percent to 16.7 percent.

Jiyue has slashed the starting prices of both versions of the Jiyue 01 by RMB 30,000 and is compensating customers who have already taken delivery for the difference.

Polestar has taken a page out of Nio's book by stripping out some of the perks, thus lowering the Polestar 4's starting price by 14 percent to RMB 299,900.

Leapmotor has cut the prices of the BEV versions of its C01 sedan and C11 SUV by up to RMB 20,000 in response to increasing competition in China's EV market.