. “The global political climate has become totally different from that when we set up our company back in 2015, especially after the pandemic stirred up division and antagonism. Chinese consumers have a wide range of [new energy vehicles] to choose from. Why can’t these products be enjoyed by US consumers as well?”
China is expected to overtake Japan as the world’s largest car exporter this year and Nio is particularly eager to boost its sales after its Chinese market share ofand plug-in hybrids fell from 2.3% in the first quarter to 1.3% in the second quarter, delivering a total of 23,520 vehicles across the country. Li said that high tariffs on vehicles made in China mean it is difficult to bring them to the U.S.
Nio is currently investing heavily in Europe where EVs are offered with generous subsidies and are selling particularly well in some countries. The Chinese carmaker is also rolling out a network of battery-swapping stations in Europe as a means to differentiate itself from rivals.