Beijing (ZXZC)- On the last day of July, China’s new energy vehicle startup Leapmotor issued a price rise to its mainstay model, the T03, which took effect from August 1st. 

Photo credit: Leapmotor

According to Leapmotor, the price adjustment was issued due to the hike in upstream raw material prices. Aside from the 2022 T03 special edition, the rest of the T03 lineup all saw an increase in their post-subsidy guidance price. 

Specifically, the five subjective T03 saw an increase of RMB5,600-RMB6,600 ($830-$980). After the price lift, the T03 lineup is priced at RMB79,500-RMB96,500 ($11,800-$14,300) after subsidies. 

Notably, this was not the first price rise Leapmotor issued in 2022. On March 18th this year, Leapmotor broadcasted that the guidance price of the entire C11 model lineup would all be lifted, but did not specify the details. Data on its official website showed that the C11 saw an RMB20,000 to RMB30,000 ($3,143-$4,715) increase depending on the trims, up 12% from before.

A few days later, on March 25th, the automaker announced a price lift to the T03 lineup. After an adjustment of roughly over RMB6,000 ($888), the starting price of the lineup was brought up to RMB73,900 ($10,940).