Owners of vehicles with purchase invoice dates on or after January 1, 2024 will only be eligible to buy out the battery packs after one year.

For a long-range battery pack with a capacity of 100 kWh, the battery costs RMB 128,000.

Customers who want to replace the battery with a brand new one will need to pay an additional RMB 3,000.

Currently Nio only allows BaaS customers to buy out battery packs with the same capacity as when they purchased the car. Owners who have already purchased a battery pack at the time of purchase cannot buy a new one.

For BaaS users, if they buy out a battery pack, the battery rental fee they previously paid will not be refunded.

Notably, for vehicles with purchase invoice dates on or after January 1, 2024, owners will only be eligible to buy out the battery pack after one year. This appears to be partly aimed at avoiding improper leveraging of China's latest new energy vehicle (NEV) purchase tax incentives.

For NEVs with buying dates between January 1, 2024 and December 31, 2025, they will still be exempt from vehicle purchase tax, but the exemption will not exceed RMB 30,000 per vehicle, according to a June 21, 2023 announcement by China's Ministry of Finance.

This means that consumers purchasing NEVs with a selling price of no more than RMB 339,000 will still not be required to pay any purchase tax, as before.

In addition, when consumers purchase NEVs with separate invoices for the car and battery, the taxable price is the ex-tax price of the vehicle body.

This means that some of Nio's higher-priced models can enjoy a lower taxable price by selling the body and battery separately.

($1 = RMB 7.0999)

Nio releases new battery upgrade rules, new conditions to apply after Jan 1