Do you want a Chinese electric car at the price of a Porsche?

The development of Chinese Nio is slower than expected. To achieve its objectives, the Shanghai firm said it could increase its prices. LThe brand’s electric vehicles will soon sell at prices close to those of Porsche! A strategy that seems rather the opposite of market developments.

Nio is not moving as quickly as expected

Nio wants to become profitable by 2026. The tone is set! If the Chinese firm has managed to make a name for itself in the world’s largest automobile market in recent years, things now seem to be getting complicated. Indeed, the rise of this manufacturer born in 2014 is not as rapid as expected. There is ” emergency » to make profits according to William Li, boss and founder of the company.

Nio should reach 220,000 deliveries over the whole of 2024. This is not worrying, but it is not enough. According to Chinese media, the company planned to pass 200,000 units in 2022. Nio would therefore be two years behind its initial plan.

Also readThis is how BYD inflates its prices in Europe to make profits

To achieve its commercial and financial objectives, the brand intends to use two levers in particular. Nio wants to be present in 25 foreign markets by next year, focusing mainly on the Onvo and Firefly brands. The second area of ​​development concerns the price of the models. William Li was very clear on this subject: “we will not engage in a price war ».

Prices at the level of those of Porsche

Unlike BYD, Nio will not sell off its electric models simply to crush the market. On the contrary, the Shanghai firm plans to increase the price of its cars. The boss of the company declared that “ Nio will be forced to increase its prices to a level close to that of Porsche in response to new customs duties imposed by the European Union ».

A level “ close to that of Porsche ”, just that. If Nio’s vehicles are indeed very well equipped, they are placed opposite electric BMWs, Audis or Mercedes. There remains a gap with those of Porsche. The Taycan is still a benchmark in terms of autonomy, consumption and recharging. Not counting the image.

However, the Nio price increase could increase the appeal of the Onvo brand. William Li also specified that “ in overseas markets, we will rely more on the Onvo brand ».

There is work to be done! In Europe, the company only sold 1,513 vehicles between January and October 2024. That is a drop of 27% compared to last year, in particular because of Germany. With 780 registrations, Norway is the largest Chinese market on the Old Continent.