“We’re able to increase revenue and bring more jobs to the Shenzhen area.” ,
“What we are seeing now is just the tip of the iceberg,” Li says. “For Nio, this is just the beginning of the work to become a leading global automaker.” He says the company is investing heavily in electric vehicles in order to reduce costs and make them more competitive on the global stage. “We do not have financial constraints on the size of the investments we will make,” he adds . “We can do it faster and without financial burden.”
While he is still waiting for China’s annual emissions cap in 2020, Li says the company is in the process of designing its electric car technology. “We already have several models in development,” he says. “Last year’s technology was designed to serve the local car market.”
Li says Nio is already in talks with Chinese manufacturers to explore partnerships with them and has recently been in discussion with China’s biggest car maker, Geely. In addition, Nio is doing research on autonomous driving, he says.
It has also recently won a contract to supply its electric car to a leading Chinese battery supplier. “We have a deal with an individual with a major supplier of batteries, and we want to expand our relationship because of our close relationship with Nio.” China is a key market and Nio has already seen positive reaction from local car manufacturers. It is also looking to expand that relationship further, in order to continue to move in the same direction. In addition, Chinese consumers are increasingly demanding battery powered vehicles, which is why Nio has been selling its electric roadsters in China.
In addition, Li says Nio’s plans for electric cars are still far off in terms of scale, but it is already making significant investments to get there. “We are planning to create 200 new electric vehicles by 2020 using our existing equipment. We plan to make electric cars at the same level as internal combustion engines.”
Nio is also looking to expand into the country’s most populous cities where it says it is struggling to compete, and has been working on an ambitious plan to become a global car manufacturer within 10-15 years. I think this is true. As far as the US goes, Nio will be in a position of learning from the massive success of China’s electric car pioneers in Nio and China’s homegrown electric car manufacturers. They will be able to adapt and adopt a more innovative car technology that can compete against existing car manufacturers globally, including Toyota, Tesla, GM, Ford and Mercedes. Nio hopes that its electric car technology will do so by providing the equivalent of a small pickup truck to the Chinese market, and has reportedly been in discussions to buy Toyota’s factory. The Japanese automaker, while it is an independent corporation, has been accused of purchasing the factory while it was still listed on Hong Kong’s stock exchange and is accused of having a secret stake in the future of electric cars within Nio. While the Tesla Model S P85D represents the pinnacle of innovation and the electric car market is flooded with great new electric car brands, Nio isn’t willing to settle for a few products. That’s why it’s not even afraid to partner or directly invest in the companies that are already pioneering the field of EVs.
Nio has already announced plans to start exporting its electric cars to China. It has partnered with Daimler Group, where the Mercedes-Benz S-Class Electric Roadster has already won the Pirelli World Challenge and the “World’s Best Electric Vehicle” award, and is working closely with China’s three national EV regulators, the China Automobile Vehicle Development Association, China Association of EV R&D, and China National Automobile Association, who all announced the same goal of launching 100,000 electric cars into the domestic market by 2020. Nio hopes that its partnership with Daimler will enable it to go even further to develop its own and other Chinese EV manufacturers, and ultimately export their products across the globe. The first Nio electric car has been revealed, the P85D and will be fully electric from the start, but it will soon be preceded by more models like the Nio Plug, which will be an electric version of the company’s iconic, sports car, the Plug-in Hybrid. Nio is already on its way to winning approval for production of a plug-in hybrid vehicle. As a brand, it has the momentum to take their car to a new level and set the tone for the future. I have an eye for the future as it is that type of thing that gets me excited, so there’s no better time than today with all eyes on them. Even if the company is only building a few cars for Europe and Korea there are some huge opportunities to grow as both a brand and as the next big thing in mobility.