Face to Face with William Li in Shanghai: Full Transcript of the Live Q&A

On April 13th, the 100,000th NIO vehicle was delivered in Shanghai, marking NIO as the first Chinese brand in Shanghai to achieve an average transaction price of over 300,000 yuan and a user base of 100,000.

NIO's 100,000th Delivery Event in Shanghai

NIO's founder, William Li, personally arrived at the scene to hand over the new car to the owner and subsequently answered some questions from NIO users.Below is the Q&A transcript.

NIO's William Li Answers User Questions on Site

Q1: How do you view the achievements in the Shanghai market, and what is your outlook for the future of the Shanghai market?

William Li： We hope that in the Shanghai market, the NIO brand can continue to maintain its market share in its respective segment, the ONVO brand can achieve a market share close to that of the Tesla Model Y, and the Firefly can become the champion in the high-end small car market. Most importantly, we aim to keep user satisfaction in Shanghai leading nationwide.

Q2: With the increasing competition in the high-end electric vehicle market, what is NIO's core strength? Is it sustainable? How can NIO win this battle?

William Li： Not all cars are high-end electric vehicles. The core strength lies first in technological innovation and originality, second in the charging and swapping network and other services, and third in the community.

Q3: Are you satisfied with the market performance of the ET9? What are your expectations?

William Li：The ET9 took four years to develop, and it is a completely new platform from the inside out. The vehicle has over 1,000 patent applications, with 17 world-first features and more than 50 class-leading aspects. We are satisfied with the market and confident that the ET9 can become one of the top three in the executive flagship market.

Q4: How can NIO use battery technology to enhance users' overall experience with battery life?

William Li：In terms of battery life, we can strengthen battery longevity and continuously extend it through operations. We also promptly retire substandard batteries and return them to the battery factory, which then returns new batteries that can serve for another 10 years. The battery subscription model is not only a technological innovation but also a systemic and business model innovation. It aligns with user interests and societal benefits, and most importantly, it is the right thing to do.

Q5: Can the success in Shanghai be replicated?

William Li： The successful practices in Shanghai can be applied elsewhere. However, there are many cities across the country that are doing very well. NIO's performance in the Yangtze River Delta is relatively good, mainly due to the precise strength of our products and services in the region.

Q6: After opening NIO Houses to Firefly and ONVO, how will you balance revenue and profit?

William Li：NIO Houses need to reduce costs and increase efficiency while improving utilization rates. Whether it's for ONVO or other brands outside of NIO, these spaces should undertake some popular tasks. Both ONVO and Firefly will be charged for activities held at NIO Houses, and we will keep internal accounts. However, it is still cheaper than renting venues elsewhere. We welcome everyone to consider NIO Houses for their events.

Q7: With NIO's recent strong sales momentum, how will you manage the transition between old and new models to maintain or even amplify the current sales momentum?

William Li： As long as there is gross margin space, there are enough means to ensure continuous sales momentum (the gross margin space also relies on cost reduction and efficiency improvement). The current models are not only promoted through discounts, but we have also made very decisive organizational changes internally. Now, from establishing contact to the middle test drive to the final delivery, the contribution of each person in the organizational chain for selling a car will be recognized.

Q8:Can NIO Power Swap Station deployment be accelerated further?

William Li： It is already very fast. Currently, we have plans for all 27 provinces (23 provinces + 4 municipalities directly under the central government).

Q9: When will NIO's intelligent driving technology be upgraded?

William Li： The end-to-end urban navigation assistance will be launched soon. The country has recently issued stricter regulations on OTA for this type of function. Originally, it required filing, but now it requires an announcement. After the announcement, it can be deployed in vehicles.