On December 28th, 2021, Leapmotor launched the 2022 model of its T03 with 5 new configurations, which are priced between 68,900 and 84,900 yuan.
The new T03 configurations are named the “Glass”, “Crystal”, “Pearl”, “Golden”, and “Diamond” versions. Compared to the old version, the starting price of the new T03 has increased by 9,100 yuan, and the top configuration has increased by 8,100 yuan. Leapmotor stated that the price increase was due to the configuration upgrade to full-series standard and considering the decrease in national subsidies and the increase in costs.
Let’s take a look at the Glass version, which has a starting price of 68,900 yuan. Compared to the old 400-light Enjoy version, the price has increased by 9,100 yuan. The power configuration has not changed and remains the only version with the old 55 kW electric motor among the 22 new configurations. The battery capacity has been reduced to 31.9 kWh compared to the old 400 Light Enjoy version, with a range of 301 kilometers. However, it is equipped with safety features such as 15-inch wheels, rear disc brakes, ESP, and smart connectivity as standard.
The other 4 configurations have upgraded the electric motor to 80 kW, which is consistent with the old 400 luxury Pro version. The 80 kW electric motor makes the driving experience of the Leapmotor T03 much easier. However, all the batteries for the 22 new configurations have been changed to lithium iron phosphate instead of the LFP battery used in the 400 Light Enjoy and 400 Luxury versions of the 2021 model.
Let’s compare the top configuration, the Diamond version of the new T03, with the top configuration, the Luxury Pro version of the 2021 model. The price has increased by 8,100 yuan, but there is no longer a need to pay an additional 1,000 yuan for the car paint and wheels, saving about 6,100 yuan.
It’s worth mentioning that the NIO T03 is now equipped with 15-inch wheels, rear disc brakes, electronic parking brake, ESP, intelligent interconnection, and a high-powered motor, all of which provide a better driving experience for the models with more configurations. Currently, the fully-equipped Star Diamond version still offers the highest value for the price.
Therefore, the increase in cost and the reduction of national subsidies resulting in rising car prices are understandable. The NIO T03 has maintained a good sales volume of about 4,000 units per month in the A00 pure electric vehicle market priced between 70,000 and 100,000 yuan. In response to the reduction in national subsidies in 2022, NIO T03 has its own market strategy. Do you think that NIO T03 can continue to increase sales in the market next year?
Source: NIO Official.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.