Amid the gleaming displays of futuristic vehicles at the 2025 Shanghai Auto Show, NIO founder and CEO William Li struck a candid tone in an exclusive interview with CGTN, acknowledging the high stakes for his electric vehicle (EV) company as it navigates a turbulent market.
Once a darling of China's EV sector, NIO has faced mounting pressure from rivals and investors alike. The company, which pioneered premium electric SUVs and battery-swapping technology, reported losses of $2.9 billion in 2024, underscoring the fierce competition in the world's largest automotive market. Li emphasized that 2025 will be a pivotal year. “Innovation is our lifeline,” he said, pointing to plans to expand battery-swapping stations globally and integrate AI into vehicle software.
Li also addressed concerns about oversaturation in China's EV industry, where over 50 domestic brands now compete. “Our focus remains on premium technology and user experience—areas where NIO can differentiate itself,” he noted. Analysts, however, warn that balancing R&D costs with profitability will be critical as the company targets European markets.
For now, NIO's story mirrors the broader dynamics of Asia's green-tech race: ambitious vision, rapid growth, and relentless competition.
