Nio Inc. (NYSE:NIO) shares ticked higher in premarket trading Tuesday as the Chinese electric vehicle maker announced price cuts across its long-range lineup following Tesla Inc. (NASDAQ:TSLA) ‘s launch of a new six-seat Model Y L SUV.
The automaker confirmed it has lowered the price of its optional 100-kWh long-range battery pack by 20,000 Chinese yuan ($2,780), reducing the cost of every long-range vehicle it currently sells, reports CnEV Post.
The adjustment, effective August 19, drops the price of the pack from 128,000 Chinese yuan to 108,000 Chinese yuan.
On Tuesday, the company’s top peer XPeng Inc. (NYSE:XPEV) reported a second-quarter adjusted EPADS loss of 6 cents, up from an 18 cents loss in the year-ago period. The company’s second-quarter vehicle deliveries surged 241.6% year over year.
With the new pricing, the Nio ET9 executive sedan, which comes with the 100-kWh pack by default, now starts at 768,000 Chinese yuan, a 2.54% reduction, the report adds.
The ET5 sedan and ET5 Touring, both entry-level long-range offerings, saw the steepest cuts at 5.62%. Customers who purchased but not yet received their 100-kWh vehicles will automatically benefit from the new prices.
Those who already took delivery between January 1 and August 18 this year will receive 20,000 Chinese yuan discount vouchers.
Beyond price cuts, the EV maker is accelerating its global push. Between 2025 and 2026, Nio plans to enter Singapore, Uzbekistan and Costa Rica, with support from local distribution partners.
In Singapore, the company will collaborate with Wearnes Automotive, a high-end car retailer.
In Costa Rica, Nio will work with Horizontes Cielo Azul Movilidad, marking its first step into the Americas. Abu Sahiy Motors will handle the rollout in Uzbekistan, its first Central Asian market.
Nio also revealed it will soon launch its first right-hand drive vehicle, preparing for entry into both American and Central Asian regions.
Its multi-brand approach, spanning Nio, Onvo and Firefly, is expected to target broader customer segments while diversifying its EV offerings.
Hedge fund activity has recently picked up around Nio, signaling optimism about its prospects as global demand for EVs continues to climb.
Analysts note that the latest moves, both in pricing and international expansion, could strengthen its competitive stance against Tesla and other rivals such as XPeng Inc. (NYSE:XPEV).
Read Next:
Photo by Robert Way via Shutterstock
