Beijing (ZXZC)- On April 20th, the HUAWEI and SERES-backed new energy vehicle brand AITO released an announcement of price increase and an upcoming trim regarding its M5 model.

Photo credit: AITO

According to AITO, due to the hike of its upstream raw material prices, the four-wheel-drive M5s will see a price increase starting May 5th. Details of the price adjustment will be revealed before the effective date. 

Additionally, the brand plans to put the standard rear-wheel-drive (RWD) trim of the M5 on sale at 16:08 April 20th. The starting price of the newly added trim was also lifted by RMB10,000 ($1,561). After the price rise, the sales price of the RWD trim will be RMB259,800 ($40,556). Moreover, the auto brand put in an incentive package for customers interested in the RWD trim of the M5 to boost sales. Specifically, the first 5,000 users to place orders are eligible for a gift bag worth RMB21,000 ($3,278). 

The AITO M5 is the auto brand’s only model on the market. The vehicle currently comes in four trims. Aside from the aforementioned RWD trim, the rest three are all four-wheel-drive powered, priced at RMB279,800-RMB319,800 ($43,678-$49,922).