NIO CEO Li Bin: Rising Raw Material Prices Have Pushed Up Vehicle Costs by Around 10,000 Yuan

Published: May 29, 2026 16:04

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On May 28, NIO CEO Li Bin mentioned during the "NIO ES9 Media Face-to-Face" session that since the beginning of this year, raw material prices including nickel, cobalt, and lithium carbonate had risen, increasing the cost per vehicle by over 10,000 yuan. Li Bin noted that commodities such as bulk materials and memory chips affected not only the automotive industry but also faster-growing and more financially robust industries, leaving automakers with little bargaining power. Memory chip prices had not come down since rising earlier this year, and the cost increases driven by raw materials were unlikely to decline in the short term either, meaning enterprises had to absorb these costs on their own.

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