Nio CEO: Raw Material Costs Rise, Vehicle Production Expenses Jump 10,000 Yuan

GateNews
On May 28, Nio CEO Li Bin stated that raw material prices, including nickel, cobalt, and lithium carbonate, have increased significantly this year, pushing up vehicle production costs by approximately 10,000 yuan per unit. Li Bin noted that automakers lack pricing power in negotiations with suppliers as commodity and semiconductor prices affect industries beyond automotive. Memory chip prices remain elevated since earlier this year with no signs of decline, and raw material cost pressures are unlikely to ease in the short term, forcing companies to absorb these expenses internally.
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