Liao Bing, founder of Chinese electric car maker GAC NIO, promised at a presentation in Beijing on August 18 that its combined hardware profits would not exceed 1% and any excess will be returned to customers.
Liao Bing announced a bill of materials for the company's GAC NIO 007, including hardware manufacturing and logistics, which is the first of its kind in the automotive industry.
The highest cost is for the battery pack at RMB 111,545, Liao Bing said. Considering the GAC NIO 007's starting price of RMB 259,800, the cost of the battery pack is almost half the price of the car.
The cost of the integrated electric drive unit is RMB 9,559, second only to the cost of the battery pack.
GAC NIO also unveiled its latest CAN AI OS, which allows for more intelligent interactive communication with the driver and passengers in the car, which will be available as an OTA upgrade starting September 10.
The three main membership services announced by GAC NIO include S (Smart) Membership, U (Ultra) Membership and V (Value) Membership services.
S membership includes free warranty, lifetime OTA upgrade, unlimited bandwidth and free home charging station installation service, which will be available from August 20 to September 9 at a cost of only 1 RMB.
U membership includes 6 types of insurance (mandatory, 1,000,000 liability and car damage insurance) and free maintenance. The limited time offer is only RMB 4,499 for the first year.
The V membership service adds value-added entertainment and travel services to the U membership. RMB 6,499 for the first year during the limited time offer period.
GAC NIO was founded in April 2018 and is jointly owned by GAC Group, GAC New Energy, NIO Fund, NIO and the founding team.
GAC NIO currently sells only the 007, which has a subsidized price range of RMB 259,800-303,000. The car has two range options, 523 km and 643 km.