Smart and Sustainable Electric Mobility
Nio will share its next-generation battery pack standard, the 800 V high-voltage, fast battery swap platform, with the entire industry, said William Li.
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"Autonomous driving technology will be so mature that traffic accidents will become history."
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No one has really thought about how to design a phone around a car before, Li said.
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William Li said the openness and fierce competition in the Chinese market were key to the rapid adoption of EVs, implicitly blaming US protectionism.
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They were last pictured together on June 6, 2020, when Nio, Xpeng, and Li Auto were all struggling to boost sales.
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The partnership, which went from discussion to agreement in just three weeks, demonstrates Abu Dhabi's commitment to investing in technology innovation and clean energy transformation, NIO said.
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NIO (NYSE: NIO) announced yesterday that it has received an investment of about $1.1 billion from CYVN Holdings, an Abu Dhabi government fund, to strengthen its balance sheet and support business growth.
In an article posted on its mobile app, William Li, founder, chairman and CEO of NIO, provided some details about the deal.
The partnership, which went from discussion to agreement in just three weeks, demonstrates Abu Dhabi's commitment to investing in technology innovation and clean energy transformation, and ultra-efficient decision-making and execution, Li said in an article posted on the NIO App yesterday.
They have a vision and execution that is highly aligned with NIO's Vision, Action philosophy, Li said.
"I believe the partnership will further drive the vision of Blue Sky Coming to fruition at a sooner date," Li added.
NIO signed a share subscription agreement on June 20 with CYVN Holdings, which will invest a total of about $1.1 billion in the Chinese electric vehicle (EV) company through the purchase of additional new shares in NIO and the transfer of shares from an existing shareholder.
In addition to the investment, the two companies will also strategically collaborate on NIO's international business, Li said.
The investment reflects NIO's unique value in the global smart EV industry and will provide continued momentum for the company's long-term growth, Li said in the NIO App article.
CYVN Holdings' investment in NIO comes at a time when the global EV market, particularly in China, is growing rapidly, resulting in a diminishing reliance on oil.
Oil nations, particularly Saudi Arabia, are already actively embracing this change.
On December 7, 2022, Chinese new energy vehicle (NEV) startup Enovate Motors signed a deal in Saudi Arabia with local company Sumou Holding to jointly build a NEV production plant there.
The two parties will spend a total of about $500 million in two phases in Saudi Arabia to build a production and R&D base with an annual capacity of about 100,000 NEVs, and the facility will be the first Chinese-branded NEV production base in the country, Enovate said at the time.
On June 12, a statement from Saudi Arabia's state news agency said the Saudi Arabian Ministry of Investment had signed a $5.6 billion deal with Chinese EV company Human Horizons to collaborate on developing, manufacturing and marketing vehicles.
BREAKING: NIO secures $1.1 billion investment from Abu Dhabi fund
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NIO was invited to attend a roundtable of Sino-German entrepreneurs and was the only smart electric vehicle company present.
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William Li, founder, chairman and CEO of NIO (NYSE: NIO), was one of the entrepreneurs who accompanied the Chinese Premier to Europe and participated in high-level Sino-German meetings.
On June 20 local time, 15 Chinese and German companies, including NIO, State Grid, Industrial and Commercial Bank of China and SenseTime, were invited to attend a roundtable of Sino-German entrepreneurs in Berlin, NIO Europe vice president Zhang Hui announced yesterday on the company's mobile app.
NIO is the only smart electric vehicle (EV) company among them, and Li participated in the roundtable, Zhang said, adding that the NIO CEO also attended the 11th China-Germany Economic and Technical Cooperation Forum on the same day.
As an EV company that insists on global development, NIO has developed a deep presence in Germany, Zhang said.
The company set up a global design center in Munich in 2015 and an innovation center in Berlin in 2022 to explore smart cockpits, autonomous driving and energy technologies.
NIO currently employs more than 1,300 people in Europe, mostly in Germany, Zhang said, adding that the company is creating more jobs in Germany as its research and development business deepens.
Meanwhile, NIO has established good relationships with German companies, including ZF, Continental and Bosch, and is actively seeking opportunities for broader supply chain cooperation, he said.
NIO has now entered five European countries -- Germany, the Netherlands, Denmark, Sweden and Norway -- and is delivering models locally including the ES8, ET7, EL7 and ET5.
The company has six NIO Houses, five NIO Spaces and 49 service centers overseas. It also has 16 battery swap stations, 8 charging stations, 26 charging piles overseas, and access to over 400,000 overseas third-party charging piles overseas.
In Germany, NIO has three NIO Houses, located in Berlin, Frankfurt and Dusseldorf, Zhang noted.
Chinese Premier Li Qiang is visiting Europe, his first trip since the formation of the new Chinese government. Li was previously the party chief in Shanghai, where NIO is headquartered.
Premier Li and German Chancellor Olaf Scholz jointly attended the Sino-German entrepreneur roundtable on June 20, local time, and exchanged views with more than 30 business representatives, according to a report by Xinhua.
The governments of both sides should create a favorable environment and stable expectations for business operations so that enterprises can study and respond to risks in accordance with market and economic laws, and achieve mutual benefits and win-win situations in open cooperation, Li said.
China will continue to expand its opening to the outside world and continue to build a market-oriented, rule of law and international business environment, Li said, adding that he hopes Germany will continue to keep its market open and create a fair, transparent and non-discriminatory business environment for Chinese companies to invest in Germany.
There is a vast space for Sino-German cooperation in fields including the digital economy, artificial intelligence, and green development, and with the joint efforts of entrepreneurs from both countries, Sino-German cooperation will surely continue to achieve new results, he said.
BREAKING: NIO secures $1.1 billion investment from Abu Dhabi fund
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First Musk in China, now William Li in Germany.
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NIO has been discussing this adjustment internally for a long time, and as of 3 am today the NIO team was still working on it, William Li said.
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NIO (NYSE: NIO) today announced the largest price and benifit adjustment in its history in an attempt to boost sales. The company's helmsman responded to the move.
NIO has been discussing the adjustment internally for a long time, with input and suggestions from some of its customers, William Li, the electric vehicle company's founder, chairman and CEO, said in a reply to an article in the NIO App.
The company had so much to consider for this that the NIO team was still working on it as of 3 am today, he said.
Now is the most appropriate time to announce the change, although the company still has some things to think about and can't make everyone happy, Li said.
NIO lowered the starting prices for all models by RMB 30,000 yuan ($4,200) starting today and made the battery swap service, which was previously offered four or six times a month for free, a paid option.
Under the latest pricing system, NIO's cheapest model, the ET5 sedan, starts at RMB 298,000, and if consumers choose to lease the battery with the BaaS (battery as a service) option, the vehicle starts at RMB 228,000.
The new ES6, which only went on sale and began deliveries late last month, starts at RMB 338,000 under the new pricing system and RMB 268,000 under the BaaS model.
In fact, many NIO supporters in China have been calling for the adjustment on social media for a long time.
NIO initially offered owners unlimited free battery swap service and free home charging piles, and scaled back the entitlement to six free services per month and a free home charging pile a few years later.
On April 10, the company announced that effective June 1, consumers who purchase the NIO ET7, EC7, ES7, and ET5 will no longer receive a free home charger, and the free battery swap entitlement will be adjusted to four times per month.
Since the free battery swap service is directly tied to the sale of NIO vehicles, it discourages potential consumers in areas where the number of battery swap stations is small from taking an interest in NIO vehicles, as they may believe that the cost of their vehicle purchase includes the battery swap service that they will not be able to enjoy in the short term.
At the same time, the high price of NIO vehicles means that its owner base is more likely to have a fixed parking space than other brands, and for these people, charging at home is cheap, making the free battery swap service redundant.
In a June 9 analyst call following NIO's first-quarter earnings announcement, Li said the company was considering adjusting customer benefits, such as free battery swap service that some owners may not need, hinting at today's move.
($1 = RMB 7.1435)
BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional
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"We need to think strategically with a long-term mindset and use that to guide our short-term actions," Li said.
(Image credit: NIO Capital)
NIO Capital recently held its annual investor conference in Hefei, Anhui province, where its managing partner William Li spoke and highlighted the choices NIO (NYSE: NIO), of which he is a founder, is making in times of uncertainty.
Li is not only at the helm of NIO Capital, a venture capital firm with a US dollar fund as well as a RMB fund, but is also the founder, chairman and CEO of NIO.
The conference was the first time in three years that NIO Capital brought together investors from its RMB and US dollar funds, and in addition to presentations and roundtable conversations, attendees toured NIO's manufacturing facilities, according to a press release today.
Li gave a keynote speech at the conference, sharing his views on the development of NEVs (NEVs) and corporate strategy, according to the release, which included a photo showing Li highlighting NIO's choice in times of uncertainty.
Last year was a landmark year for the global NEV industry, as global sales of NEVs exceeded 10 million for the first time, with China contributing close to 70 percent of the sales, according to Li.
Even during the Covid epidemic, China's NEV sales performance was still surprising, showing that the NEV industry has fully transitioned from being policy-driven to being product-driven and market-driven, which is a historic watershed, Li said.
Nonetheless, the future remains challenging, and increased uncertainty is a trend that almost everyone agrees on, he said.
"In today's world, we must learn to think about how to grow, how to manage risk, and how to take advantage of opportunities in a more volatile and uncertain world," Li said.
"We need to think strategically with a long-term mindset and use that to guide our short-term actions. We need to be more aggressive in meeting the challenges of the market while ensuring that the company's operational risks are manageable," he added.
Ian Zhu, another managing partner at NIO Capital, also spoke and said the venture capital firm has made aggressive investments in the areas of smart cockpits, battery technology, energy transition, semiconductors and automotive ecology since 2022.
NIO Capital didn't provide much more on NIO, though many of its investments are around the NEV industry chain and are sometimes made alongside NIO.
NIO and NIO Capital invested in fusion startup Neo Fusion, taking a 19.9 percent and 10.1 percent stake, respectively, according to a CnEVPost report last week.
NIO also seems to be hoping that NIO Capital's investment will help it get better access to resources for building more attractive electric vehicles.
NIO announced the panoramic digital cockpit PanoCinema when it launched the ET5 sedan on December 18, 2021.
It announced at that time the introduction of AR glasses developed jointly with Nreal, an AR technology company that is a portfolio company of NIO Capital.
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