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Nio co-founder William Li poses inside a Nio EC7 at the Shanghai auto show on April 19, 2023.
Hector Retamal | Afp | Getty Images
BEIJING — Chinese electric car brand Nio said Monday it is cutting prices for its cars by the equivalent of $4,200 effective immediately, and ending free battery swaps for new buyers.
The move is contrary to CEO William Li’s claim in April that Nio would not join a “price war.” Tesla and other electric car companies…
