Nio, a Chinese-based electric car manufacturer, has been competing directly with European electric technology and is doing well. The company's Founder and CEO, William Li, recently say down and discussed at the Shanghai Auto Show about their plans for Europe, going against other companies from China and Europe, and their recent stock listing.
The best chance for a Chinese automaker to break into the European market is with EVs. Does Europe appeal to you?
Yes. We want to be a global brand. We have almost 200 people in Munich, for example. But we are still a very young company and have limited resources. If we expand abroad, we should be profitable. That's why we should be very careful when we expand outside of China because it's very easy to enter a market, but very hard to survive and win.
German brands dominate the Chinese premium car market. How can Nio break though?
We just entered the segment with a vehicle that is not cheap, it [the ES8] costs about $75,000. As a competitor to the Audi Q7 seven-seat premium large SUV, we have a market share of more than 10 percent, and that is just the beginning.
Do you see the German automakers as dinosaurs that are too slow to react to new trends?
They are powerful, have lots of money and they are already changing. So while they may be giants, I do not see them as moving slowly. As a startup, however, we need to move faster.
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