The billionaire founder of the Chinese electric vehicle (EV) company, which is now one of the most valuable automakers in the world, has called on the leaders of the US and China to develop “ better trust in each other ” as they try to negotiate a new deal about reducing CO2 emissions.
William Li is the founder of NIO’s Chief Executive. The EV maker is sometimes labeled as China’s Tesla killer. Its value has skyrocketed since the company was on the brink of financial collapse in late 2019.
Speaking to the BBC in Shanghai, just days after US Presidential Envoy on Climate John Kerry came to the city for two days of talks with government officials, Mr. Li said that “under current international relations, it is very difficult to a concept.”
NIO is at the forefront of China’s self-made attempt to dominate the EV industry. It has put a lot of effort into replaceable batteries in its cars as a way to alleviate customer concerns about frequent charging.
The Chinese EV market is currently struggling with overcapacity and an abundance of players. The number of registered manufacturers is more than 500. In March, electric car sales in China broke through the token 10% of total car sales.
Tesla now also makes cars in China for the Chinese market. Elon Musk received significant financial support for his factory from the Shanghai government.
Li Bin, as he is called in China, told the BBC that he thinks Tesla has been the biggest beneficiary of state efforts to boost development, saying the US giant “is the one who benefits the most from Chinese regulations.”
Mr. Li added that policy support from Beijing “does not apply specifically to one company or one industry … this is not just about one company, but all (of) society has to work on it.”
NIO and Tesla are now among the most valuable automotive companies in the world; worth more than Ford, despite sales still in the thousands, not the millions. Both are at the forefront of the race to develop the most advanced in-house knowledge about autonomous driving.
William Li is a serial entrepreneur and since the founding of NIO in 2014, he has emerged as one of China’s best-known technical leaders. NIO is listed on the New York Stock Exchange and Mr. Li has made comparisons with the founder of e-commerce platform Alibaba Jack Ma, who also has a significant footprint in both China and the US.
But Mr. Ma’s business empire is under increasing pressure from China’s financial and anti-monopolistic regulators, and many fear other Chinese technology companies will be next.
When asked if he was nervous about such fame and that he was being labeled Jack Ma of the EV industry, Mr. Li told the BBC “we are a customer focused company and I have never worried about such things.”
However, these are nervous times for companies dealing with regulatory requirements in the US and China and global ambitions that span both countries.
NIO was concerned about talking to the BBC. Especially after a recent campaign in the Chinese state media in which the company was attacked for its coverage of human rights violations in Xinjiang and Covid-19.
A senior media manager at the company told us they didn’t want to be the only EV company featured in a BBC coverage of China’s efforts to tackle pollution.
Months of negotiations to get an interview with CEO William Li proved successful only when I was able to meet him in person.
NIO is leading the charge for China in an industry it wants to revolutionize. It has the backing of global investors, as well as a branch of the Chinese government, which helped propel it in 2019.
Another company media manager told me it is “a balancing act” to draw international attention to their efforts.