NIO Co-Founder expects NIO ET5 to reach Tesla’s Model 3, BMW 3 Series and Audi A4L in 2 years.

Many details were not told by one by Li Bin during last NIO Day. After the meeting, Qin Lihong, co-founder and president of NIO, held a media meeting and once again gave more detailed answers to everyone’s concerns such as NIO sub-brand, ET5/ET7 comparison and much more.

“Whether it is fuel or electric drive, it is a must-have place for mainstream high-end brands, competing for Model 3, BMW 3 Series, Audi A4L and other models. I hope that in two years, ET5 will reach the same order of magnitude of mainstream brand models. According to the development trend of the whole new energy vehicle, I feel that it is conditional to do so.”

Qin Lihong, Co-Founder and President of NIO

Regarding ET5 Orders Numbers during the first hours/days, Qin said that the new Sedan: “has indeed achieved a good market response. Judging from the situation in the first 20 hours, some users did change from ET7 to ET5.”

Comparison between ET7 and ET5 Model

“I just saw the order of ET7, and it has increased again. Although both cars are in a state of pending delivery, their respective positioning is still very clear. The starting price difference is 120,000 yuan, and I am still more confident about both cars. With the delivery of ET5 in the second half of the year, NIO’s overall sales growth should have a new pillar, but it does not mean that the current models will be paid less. I think the life cycle of existing models can still be played, especially in the SUV market.

NIO’s Sub-Brand

“Previously, Brother Bin’s investors’ telephone in the third quarter financial report revealed that there would be a more affordable brand that entered the mainstream market, which has nothing to do with ET5. It is a brand parallel to NIO. The following is its own product plan. We will release this matter at the right time. So on the occasion of NIO Day, it will not talk about sub-brands. It will have its own exclusive festivals.“

Chip Shortage Effects

“The shortage of some parts in the supply chain is a common problem facing the whole industry, and we are not immune. At present, some companies with larger sales volume are under greater pressure than us. As for particularly high-end chips such as Lidar and self-driving, there is no shortage. In the past year, there has been some relatively basic chips, such as rain sensors, air suspension controllers, and some chips for seat perception.”

“The global automobile industry may fluctuate in short-term sales due to chip problems, and NIO has also been affected. I still believe that it should be seen in the longer term. History has repeatedly told us that today’s shortage will be overflow one day. This is a problem to deal with at the operational level. Just do a good job in response and plan in time. I don’t think any car manufacturer dares to guarantee that there is no shortage of chips, but the shortage will not essentially change the development trend and competitive pattern of the automotive industry. It is just a short-term fluctuation at the operational level.“