Chinese electric vehicle manufacturers are not only letting Volkswagen rest in the Chinese market, but are also ready to push it forward in Europe. At least, that is the determination demonstrated by the founder of the Chinese company NIO William Li (William Li) in his interview, which will offer electric cars to European customers under 30,000 euros.
In an interview with a German edition The mirror The founder and leader of NIO expressed his respect for big local brands like Mercedes-Benz, BMW and Audi, but made it clear that he was ready to challenge their owner Volkswagen in his home market without hesitation. Machines of the NIO brand are already officially on sale in Germany, customer feedback is positive, and in the future the company will introduce two more brands to the European market. One of them will only offer small and cheap electric vehicles that cost less than 30,000 euros. From a pricing point of view, Volkswagen is becoming the Chinese manufacturer’s main competitor in the local market. However, residents of France, Italy and Spain will be the first to have access to the new brand cars, as mass brand cars are popular here.
According to its founder, NIO is not afraid of a price war with Tesla in its Chinese home market. First, Tesla actually occupies no more than 10% of the market in China, so it can’t dictate prices. Second, in terms of features and characteristics, comparable NIO EVs are, on average, $20,000 more expensive than Tesla EVs. Mr. Li said falling prices in the primary market hurt sales in the secondary market as owners have to part with their cars at lower prices.
NIO is not giving up hope of breaking even this year and launching five more new models. Along the way, the network of stations for the express change of traction batteries will be expanded, which will automatically change a discharged battery into one that is ready to drive within a few minutes. Electric vehicle production in China is about 20% more profitable than in Europe or the United States, the head of NIO noted, and hence the country will be the locomotive of electric vehicle market expansion.