Roewe, a brand of SAIC Motor Passenger Vehicle Company, has already joined the lineup of automakers who raise prices of new energy vehicle NEV) models to handle the national NEV subsidiary reduction that has become effective since Jan. 1, 2022.

All-new Ei5; photo credit: Roewe

The automaker announced a few days ago that it has decided to bump up the guiding prices of several Roewe-branded NEV models under the pressure of cost increase that was led by such headwinds as global chip shortage and national NEV subsidy decrease. The scheme will come into effect on March 1, 2022.

Roewe added that customers who sign a car purchase contract and put down a deposit before March 1 will not be affected by the price lift policy.

Meanwhile, the passenger vehicle maker also said it strive to guarantee sufficient production capacity and supply of vehicle models.

In January 2022, Roewe saw its NEV sales surge 85% year on year to 9,892 units, which accounted for 23.5% of the brand's total monthly sales.

Due to the subsidy shrink, quite a few automakers in China have marked up NEV prices to maintain their profits, including Tesla, XPeng, HOZON Auto, BYD, and Polestar. Carmakers like ORA and FAW-Volkswagen agreed to remain priced unchanged within a limited period.