NIO CEO Li Bin: Auto industry enters most brutal final stage

TREE NEWS update: On September 3, NIO founder and CEO William Li said the auto industry has entered the most brutal phase of the marathon’s final stretch, with industry-wide profits under sustained pressure and sales and manufacturing margins at low levels. He noted that while single-vehicle costs have risen—memory chips up 10,000 yuan and batteries up 3,000-4,000 yuan—NIO will maintain price stability in the second half of the year.