Exeed ET5 Raises Prices by ¥5,000, Becomes First Automaker to Announce 2024 Price Hike

On March 5, Exeed—the premium brand under Chery—announced a price increase for its ET5 model. The official manufacturer's suggested retail price (MSRP) of the high-end "210 LiDAR Zhi Zun" variant has risen from RMB 159,900 to RMB 164,900. This move makes Exeed the first automaker this year to publicly raise vehicle prices. Exeed stated that the primary reason for the price hike is the rising cost of raw materials, particularly semiconductors. However, the company emphasized that the more fundamental driver is its "long-termism" strategy, aimed at ensuring sustainable investment in R&D, product quality, and customer service. Notably, the previously complimentary advanced driver-assistance feature—"Falcon 700 Urban NOA"—now requires an additional payment of RMB 5,000 to unlock the full Intelligent Driving Package (originally valued at RMB 28,800). This price increase stands out as particularly unusual amid the current highly competitive automotive market, where widespread price cuts and promotional financing deals—including over 20 automakers offering "seven-year low-interest loans"—have become the norm.