Shanghai (ZXZC)- NIO announced on May 13 the entire series of the NIO ET7 will rise on price from May 23, 2022 due to the global continuous increase in raw materials prices.

ET7; photo credit: NIO

To be specific, the price of each ET7 will be lifted by 10,000 yuan ($1,470). The price adjustment does not affect the users who put down a deposit before or on May 22, and take delivery this year.

This was the second price increase NIO announced so far this year. On April 10, the startup claimed that the prices of the ES8, the ES6, and the EC6 would be increased by 10,000 yuan after one month later because of the same reason.

As NIO's fourth production model and first model riding on the NT2.0, the ET7 made its world's debut at NIO Day held in Chengdu on January 9, 2021 and its delivery kicked off on March 28, 2022.

With dimensions of 5,101mm in length, 1,987mm in width, 1,509mm in height, and a wheelbase of 3,060mm, the model plays in the league of full-sized sedans, which is represented by the BMW 5 Series and the Audi A6L.

In April, NIO delivered 693 ET7s, which accounted for 13.66% of the startup's total monthly deliveries.