NIO, XPeng und Li Auto brechen kollektiv die Preisuntergrenzen.

Over the past decade, NIO, XPeng, and Li Auto have always been the absolute "barometers" of the Chinese auto market and have truly reaped the benefits of the electrification transformation.

Recently, all three have entered the cycle of launching new key products, but they have all adopted the same strategy - price cuts.

Regarding NIO's LeDao, after most consumers choose the BaaS battery leasing plan, the actual price of the L60 has reached the range of 150,000 yuan. Even for its flagship large - sized model, the L90, the price is basically a little over 200,000 yuan, showing strong cost - effectiveness.

If LeDao is a must - sell product for NIO to boost sales volume, then for NIO's own brand models, especially since the pre - sale of the third - generation ES8, compared with the old models, the price difference has decreased by anywhere from over 80,000 yuan to over 200,000 yuan. After the BaaS battery leasing plan, the ES8 has become a model starting at a little over 300,000 yuan. This high - end brand that once aimed to compete with BBA and whose founder Li Bin repeatedly emphasized that it would not cut prices has completely shed the "no price cut" label.

The same goes for Li Auto. After the disappointing debut of the Li i8, Li Auto quickly lowered the price of the i8 to 339,800 yuan. As an 8 - series model under Li Auto, the price of the i8 is significantly lower than that of the L8. A pure - electric vehicle of the same class is cheaper than an extended - range vehicle, which has really refreshed people's previous perception of Li Auto's price system.

The upcoming Li i6 is bound to learn from the pricing lesson of the i8. At the same time, to resist the encroachment of Li Auto's market share by Wenjie in the extended - range market and salvage Li Auto's current dismal delivery data, the price of the i6 may be lower than that of the L6, completely breaking through the lowest price of Li Auto's existing models.

Needless to say, XPeng was the first new - energy vehicle startup to start the price - cut campaign. In the past, the average price perception of XPeng models was above 200,000 yuan. However, after the launch of the MONA M03, the price has dropped to the range of 110,000 - 140,000 yuan, becoming the core support for XPeng's sales volume. The new - generation P7 also has a starting price as low as 219,800 yuan, but it offers a configuration equivalent to that of a model that used to cost nearly 300,000 yuan.

The collective shift of the three leading new - energy vehicle startups to low - price strategies is not an act of "voluntarily giving up profits" but a helpless move as the market competition has entered a "life - and - death stage". When price cuts become the most straightforward and effective way to break the deadlock, the "price bottom line" of new - energy vehicle startups will ultimately yield to the "survival pressure".

The Triple Price Cuts of NIO, XPeng, and Li Auto

Let's first rewind to July 29th when the Li i8 was first unveiled.

Normally, this all - electric six - seat SUV shoulders the heavy responsibility of opening up a new market for this new - energy vehicle startup. However, judging from the feedback from the market after its launch, the situation is not optimistic. The most fundamental reason behind this is that there are many dilemmas in both pricing and SKU division.

Fortunately, one week later, Li Auto woke up and took corrective actions.

The i8 completely removed the Pro version and set the Max version as the standard configuration. The price was adjusted from 349,800 yuan to 339,800 yuan. At the same time, a platinum audio system worth 10,000 yuan was given away for free, and a rear - cabin entertainment screen package worth 10,000 yuan was offered as an optional add - on.

Along with these major adjustments, Li Xiang, the leader of Li Auto, shared his reflections.

"We deeply feel that users love high - end configurations. However, the most common complaint is that the model versions are a bit complicated, making it difficult to choose, and some high - end configurations are not available for selection. Previously, the i8 continued the version configuration characteristics of the L8, which was due to our inertial thinking."

The surface meaning of these few words is easy to understand. Looking deeper, there is actually an undercurrent surging within this new - energy vehicle startup.

Starting from the i8, Li Auto's entire pricing system may be overthrown and rebuilt. For example, for the upcoming i6 this month, it can be predicted in advance that it will continue to follow the strategy of "fully - equipped + aggressive pricing". Next year, relying on the window period of generational change, the L - series models are likely to re - anchor the positions of several SUVs.

Coincidentally, a similar scenario is also playing out at XPeng. On August 27th, the new - generation P7 was officially launched.

With three Turing chips, dual - chamber air suspension, and 5C ultra - fast charging batteries as standard across the entire range, this pure - electric coupe, which can be regarded as the brand's "signature" model, has undoubtedly shown great sincerity.

What's even more unexpected is the pricing of the new - generation P7, which ranges from 219,800 yuan to 259,800 yuan. Facing the highly competitive Chinese auto market, XPeng has shown great determination to boost sales volume.

But in essence, it also reveals a sense of helplessness.

It should be noted that many years ago, the top - of - the - line version of the first - generation P7 was once sold for over 400,000 yuan. Looking at other products currently on sale at this new - energy vehicle startup, from the G6 to the G9, there have also been significant official price cuts after the launch of new models.

Not to mention the MONA M03, which is currently the core model supporting XPeng's sales volume. Its price has entered the range of brands like BYD, Geely, and Leapmotor, which are known for their cost - effectiveness. As a friend once said, "Due to various reasons, XPeng's main sales range has retreated to below 250,000 yuan or even 200,000 yuan, and it is gradually becoming a mainstream mass - market brand."

The truth is a bit harsh. However, in order to stay in the game and retain the qualification to advance to the final round, the reshaping of the price system has to be done.

Similarly, NIO is also in a similar situation.

On August 29th, the media day of the Chengdu Auto Show, it was thought that this new - energy vehicle startup was just going through the motions. However, it suddenly announced, regardless of the risk of disappointing its old customers, that all models on the NT2 platform currently on sale will come standard with a 100 - kWh long - range battery pack, with no price increase for the upgraded configuration.

In other words, it is a direct disguised official price cut of 38,000 yuan.

Of course, from NIO's perspective, implementing this policy is urgent. The real "trigger" dates back to August 21st when the new ES8 on the NT3 platform was announced for pre - sale with a minimum price of only 416,800 yuan. After adopting the BaaS battery - vehicle separation plan, the price further dropped to 308,800 yuan.

At that time, a storm of reshaping the price system of the entire product lineup slowly began.

Without a doubt, at the NIO Day held this month, the final offensive of the new ES8 will surely be more intense. After all, in order to achieve the company's goal of making a profit in the fourth quarter, this all - electric three - row SUV must not only sell well but also act as a profit - generating model.

The Price War of New - Energy Vehicle Startups Has Just Begun

Last week, I had the honor of having a face - to - face conversation with Li Bin, and he explained this topic.

"The new ES8 is an anchor model. In fact, the first - generation ES8 was also an anchor model. At that time, it had the highest sales volume and the best profit margin. The second - generation ES8 deviated from this anchor, and the total cost in all aspects pushed the price up to over 500,000 yuan. Now, the new ES8 has once again become the anchor model. In the future, the pricing and technical platforms of all products will be re - arranged based on this anchor model. This is for sure. This is also one of the reasons why we are now offering a 100 - kWh battery as standard."

But in my opinion, similar to the situations of its competitors, Li Auto and XPeng, this choice also implies a sense of having to compromise with the general environment.

Last week, NIO was criticized by customers and the public for "cutting prices without considering the feelings of old customers". However, NIO's answer is that if it doesn't choose to lower the prices of all models this year, it will be facing a dead end. Facing the choice between harming the interests of old customers and survival, NIO has firmly chosen the latter.

On the contrary, by recognizing and re - positioning its new position in the Chinese auto market, many problems will be easily solved.

After analyzing the recent actions of NIO, XPeng, and Li Auto, doesn't it seem very appropriate to describe their situations at the beginning as "forced to restart"? The reshaping of the price system is ultimately the result of extreme involution.

The collective shift of these three leading new - energy vehicle startups to low - price strategies is not a "strategic transformation" but an inevitable choice as the market competition has entered a "life - and - death stage". Behind this is the superposition of three pressures: "reaching the ceiling of market growth, being surrounded by competitors, and facing profit - making pressure". Further extending this, the "Matthew effect" in the Chinese auto market has reached an unprecedented level.

For example, at this year's Chengdu Auto Show, when the "Five Kingdoms" under Hongmeng Zhixing lined up, they could cover the market from products worth over a million yuan to those worth over a hundred thousand yuan. Another example is that when Lei Jun only showed two cards, the SU7 and YU7, he could easily receive hundreds of thousands of pre - orders, and the market demand far exceeded the supply. And the Model Y L, which no one was initially optimistic about, still became a best - seller relying on Tesla's brand influence...

Although it's hard to admit, industry resources are still concentrating on the leading players.

For players like NIO, XPeng, and Li Auto, even though they have been deeply involved in the industry for over a decade and seem to have built a certain moat, they still have to accept the outcome of "all efforts are in vain" when facing the blow of lower - dimensional competition.

The same principle applies: "When giants enter the market, it's terrifying." When Huawei and Xiaomi enter the market with strong brand appeal, when BYD and Geely respond to the new - energy wave with extreme scale and technological reserves, and when traditional joint - venture brands make a comeback with their deep financial resources, the pressure on new - energy vehicle startups is mounting.

To deal with their successive waves of pressure, relatively weaker brands can only significantly adjust their original strategic layouts and use the "price war" as a way to avoid the direct confrontation, fight fire with fire, and seek self - preservation.

Previously, NIO, XPeng, and Li Auto were priced in the range of two to three hundred thousand yuan. On the one hand, they are important drivers of new - energy vehicle startups and the new - energy trend. On the other hand, they do lead in terms of product strength and user insight. Price cuts are likely to bring good results, but this may be the last card played by new - energy vehicle startups.

After all, although price cuts can quickly boost sales volume, for NIO, XPeng, and Li Auto, it is also a "double - edged sword" that may trigger a series of chain reactions. In particular, the relatively high - end price positioning may be diluted by low prices, the resale value of old customers' cars will be affected, leading to a loss of user trust. And it is also uncertain whether price - for - volume strategy can truly relieve the profit - making pressure...

From the Li i8, to the new - generation XPeng P7, and then to the new NIO ES8, they are all using actions to interpret the eight - character truth: "Abandon illusions and face reality." In the future, the competition among new - energy vehicle startups will be even more brutal: prices will continue to drop, technology will iterate faster, and users will be more demanding. The price cuts of NIO, XPeng, and Li Auto are not the "end" but the "beginning". From Li Xiang, to He Xiaopeng, and then to Li Bin, the current state of mind of these three leaders is no longer about "struggling over whether to cut prices" but about "how to survive better after price cuts".

This article is from the WeChat official account "Automobile Commune" (ID: iAUTO2010), author: Cui Liwen, published by 36Kr with authorization.