Nio today announced cutting prices on all of its models. It will also end free battery swapping services to new buyers. More details can be obtained from link: https://cnevpost.com/2023/06/12/nio-william-li-responds-to-price-cuts/

I see this as positive news. I was expecting them to cut prices few months ago in view of overall sluggish EV sales and competitors had been cutting prices as well. This is inevitable. 

Even with the price cut. NIO is still priced as premium vehicles as compare to other Chinese EV company like Xpeng, BYD etc. I hope the amount of price cut will be able to generate more sales to more than offset the lower vehicles margins as the result of the price cut.

So far, market had reacted positively in HK stock exchange. US stock to be opened in about 1 hour time and premarket now is up 4.5%.