NIO Chose the Pure Electric Car Path and Planned to Build More Power Exchange Stations

At the Guangzhou Auto Show on November 15, Wei Jian, senior vice president of NIO, was interviewed by the Securities Daily reporter for NIO's sales growth, brand strategy, the plan for power exchange stations, and the debate about its path to pure electric vehicles.

NIO had a strong sales performance, exceeding 20,000 units for six consecutive months and occupying 45.9% of the pure electric market pricing RMB 300,000. NIO grew not only its sales but also its value retention. Although many brands cut prices due to market competition, NIO's value retention rate has risen and remained high as well as its turnover rate. Data manifests NIO's strong market competitiveness. Wei Jian said that NIO will continue to win the market by improving product value and service experience rather than cutting prices.

Mr. Wei also shared that NIO's brand strategy was always prioritizing the interests of users. Elaborating more on its strategy, Wei Jian revealed that NIO will soon release its third brand, Firefly. Product launches help NIO cover a wider range of market demand through the positioning of different brands at a price range from RMB 100,000 yuan to 800,000. This product differentiation aims to meet the needs of different user groups and further enhance NIO's overall competitiveness in the new energy vehicle market.

　　
In terms of the plan for power exchange stations, Wei Jian stated that NIO planned to build 350 more in November and December after building 2,659 power exchange stations. He elaborated that by the end of 2025, NIO will have a power exchange network going through China's 9 vertical and 9 horizontal highway roads, achieving the full coverage of the power exchange network in China's cities of the major automobile consumption markets. This program will greatly enhance the charging convenience for NIO users and further consolidate NIO's leadership in the new energy vehicle market.

Wei Jian also shared the development of NIO in overseas markets. NIO has already built 18 power exchange stations overseas and has realized the coverage of the whole power exchange network in Norway. NIO will continue to accelerate the layout of overseas markets and bring advanced power exchange technology and high-quality products to more overseas users.

In the end, Wei Jian responded that NIO would take the pure electric route. Wei Jian emphasized that NIO will continue providing the best pure-electricity experience for users with a more convenient and efficient way to travel.