A new price reduction of up to 30,000 yuan ($4,470) has been announced by Huawei-powered Chinese automaker AITO in response to Tesla, the largest manufacturer of electric vehicles in the United States. Beginning January 13, 2023, as a New Year’s Thanksgiving, both improved and existing clients will be able to take advantage of the new prices and services.
The AITO M5 EV rear-wheel drive basic version will now cost 259,800 yuan, down 28,800 yuan ($4,172), according to the specifics of the price drop. The price of the M5 EV four-wheel drive performance version will drop to 289,800 yuan ($4,470), a reduction of 30,000 yuan. These price cuts have brought the M5 EV’s price into line with that of the rear-drive Tesla Model Y. Furthermore, the luxury M7 version’s price is now comparable to that of the Model Y with a lengthy battery life.
In contrast to Tesla, AITO has also disclosed intentions for current customers. Users of the M5 extended range variant, which was exempt from the price cut, will still get two years of basic maintenance. Further compensation will be given to consumers who possess the M5 EV and M7 vehicles. A super home screen, smart car search, and automated HUD height adjustment will soon be included to all current AITO models through over-the-air updates. New improvements will also be made to AITO’s smart travel functionality.
An 8-year/160,000-kilometer warranty for the first owner (estimated at 21,000 yuan) and 120,000 AITO points are among the rights and interests that all M5 EV users will be able to enjoy for 33,000 yuan (worth 12,000 yuan). In addition to the same warranty and AITO points as the M5 EV, owners of the M7 Comfort Edition and Deluxe Edition will earn rights and interests worth 35,000 yuan. Despite the fact that the M7 flagship variant was not included in the price drop, owners will still be entitled to the 8-year/160,000-kilometer guarantee.
AITO delivered more than 75,000 vehicles last year, making it the fastest-growing new energy vehicle brand. With this new price cut and additional benefits for existing customers, AITO is positioning itself as a strong competitor in the electric vehicle market.
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(via)
