Chinese language electrical automobile maker Xpeng will hike the value of its automobiles citing a pointy rise in the price of uncooked supplies.

Xpeng stated from Mar. 21, worth will increase on its autos will vary from 10,100 Chinese language yuan ($1,587) to twenty,000 yuan earlier than subsidies. The corporate didn’t give a breakdown of the precise worth rises for every of its fashions.

Xpeng at present sells the flagship P7 sedan, the P5 sedan and the G3 sports activities utility automobile. It’s gearing as much as launch the G9 SUV later this 12 months.

Electrical carmakers have been scuffling with rising prices of uncooked supplies akin to nickel, which is a key element of batteries. Different elements akin to semiconductors proceed to be in brief provide, offering one other headwind for Xpeng and its rivals akin to Nio.

Xpeng is just not the primary electrical automobile firm to boost costs. During the last week, Tesla has carried out a number of worth hikes throughout numerous fashions of its automobiles.

Earlier this week, Warren Buffett-backed automaker BYD additionally raised the costs of its new vitality autos, which incorporates electrical automobiles.