Lynk & Co is set to increase the subscription cost of its 01 SUV in Europe by 10 per cent for new and existing customers.
An announcement from the Chinese car manufacturer has confirmed that new customers will now have to pay €550 ($582) a month for the SUV as of July while existing customers will be hit with the increased price from September.
The vast majority of Lynk & Co 01 drivers in Europe will be hit with the price increase. In fact, the head of Lynk & Co’s operations outside China, Alain Visser, recently revealed to Auto News Europe that “90 to 95 per cent” of the automaker’s retail sales across the continent are for subscriptions. The car manufacturer had 5,478 vehicles registered across Europe at the end of April.
Those looking to buy the 01 outright will also be hit with a price hike. Whereas the 01 was previously available from €42,000 ($43,882), its starting price has now swelled to €44,500 ($46,494).
The announcement of these price increases comes shortly after Lynk & Co decided to stop selling the standard hybrid model in Europe and instead stick with the plug-in hybrid variant.
“Initially we were worried that having plug-in hybrid was not going to attract urban customers,” Visser recently said. “But then we realized that the [sales] mix of the PHEV was about 90 percent. So then we said, as a brand point of view, to be seen as a sustainable brand let’s focus on electrification as quickly as possible.”
The Lynk & Co 01 is underpinned by the same Compact Modular Architecture as the Volvo XC40. Powering the plug-in hybrid model is a 1.5-liter three-cylinder engine paired with an electric motor delivering a combined 257 hp.
While Lynk & Co will soon be selling six models in China, it has not yet announced plans to expand its European range.