China's Nio cuts prices, ends free battery swapping as sales slide

SHANGHAI :Nio said on Monday it would lower prices for all models and end free battery swapping services to new buyers, as the Chinese electric vehicle maker faces mounting pressure in profitability amid lukewarm sales.

The company also would no longer provide free battery swapping services to buyers who place deposits on Monday and onwards, it added. Nio said in February it would accelerate the expansion with a plan to build 1,000 battery swapping stations in China this year to bring the total number of such facilities to 2,300 by year-end.

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China's Nio cuts prices for all models, ends free battery swapping servicesSHANGHAI : China's electric vehicle maker Nio said on Monday it would cut prices by 30,000 yuan ($4,198.74) for all models including its revamped ES6 and ES8 sports utility vehicles from June 12.Nio would no longer provide free battery swapping services to new buyers, the company also said in the same sta
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