NIO, the Chinese electric vehicle (EV) maker known for its premium models and innovative battery-swapping technology, is facing significant challenges as it navigates a competitive market, according to company founder and CEO Li Bin, who shared plans on the sidelines of this year's Shanghai Auto Show to push through these challenges and achieve its goals.
The 21st Shanghai International Automobile Industry Exhibition, also known as Auto Shanghai 2025, is currently in full swing. The event started on April 23 and will conclude on May 2.
At the show, Li said the brand still has a bright future, with strong investment in its products and operations. He said that 2025 is nonetheless a critical year for NIO, with the implementation of new technology, new product launches, and a major expansion of infrastructure.
"Look at our highly competitive products. We've invested heavily in research and development in past years. This year, these investments will turn into real product strength. We are launching nine new models this year. Our battery-swap stations have grown into a huge network, and its network effect is getting stronger and stronger. This year, we aim to cover every county in 27 provincial regions with swap stations," he said.
Li also said that the company will enter a major new product cycle starting in Q2 this year.
"Our Q1 sales grew 40 percent compared to the same period of last year. Of course, deliveries of our most premium ET9 model only started at the end of March. From Q2, we'll enter a major new product cycle. In the auto industry, growth relies heavily on new product launches. That's why we're very confident in the second half of the year," said Li.
Reflecting on comments he made two years ago at the Shanghai Auto Show that the next two to three years would be crucial for auto industry transformation, Li acknowledged the rapid transformation of the auto industry.
"Many companies are launching new products, whether in intelligence, electrification, or entire vehicles. Smart and electric technologies have completely reshaped the industry. It really is a dramatic transformation. Of course, in the next two to three years, how we continue to compete and stay in the 'finals' is a question not just for NIO, but for every car company," he said.
CEO of Chinese EV maker NIO shares company strategy at Shanghai Auto Show
