In 2014, when China’s new energy vehicle market was booming, the founding team of NIO, led by Li Bin, keenly sensed the opportunity of the times and resolutely embarked on the journey of smart electric vehicles. At that time, although Tesla had already emerged, its high price made most consumers unwilling to buy it. NIO was established to fill the gap in the high-end smart electric vehicle market and provide consumers with a more affordable choice.
Li Bin, founder of NIO, is one of the representatives of post-70s entrepreneurs. He founded Yiche.com, China’s largest automobile website, and has accumulated rich experience in the Internet and automobile industries.
The development history of NIO can be roughly divided into three stages: the initial stage (2014-2016): During this stage, NIO completed important tasks such as the establishment of the company structure, the establishment of the core team, and product research and development planning. In 2017, NIO released its first mass-produced model ES8, announcing that NIO officially entered the market.
Rapid development stage (2017-2019): With the mass production and delivery of ES8, NIO quickly opened up the market and launched a number of models such as ES6 and EC6. At the same time, NIO has also established a complete user service system, including the NIO Power charging service system and the NIO Life user lifestyle service system, to provide users with a full range of exclusive experiences.
Transformation and upgrading stage (2020 to present): Faced with increasingly fierce market competition, NIO began to adjust its strategy and focus on the high-end smart electric vehicle market. In 2020, NIO launched a new model ET7 and released the NT2.0 smart platform. In 2023, NIO announced that it will launch a new brand “Firefly” in the European market, and plans to launch a new model ET8 Pro in 2024.
NIO’s main business includes vehicle sales and service ecology. NIO sells electric vehicles to users through self-built sales channels and service outlets, providing users with a full range of service ecology, including NIO Power charging service system, NIO Life user lifestyle service system, etc., so that users can enjoy a distinguished car experience.
NIO is the English name of Weilai Automobile, which is officially explained as “a new day”. However, these three letters are not the abbreviation of “a new day”, but the result of careful selection by the founding team. The founding team of Weilai Automobile hopes that Weilai can bring new hope and a better future to users like a new day. Weilai Automobile’s brand concept is “creating a pleasant lifestyle”, and its products and services are designed to provide users with a better life experience. Weilai Automobile is committed to subverting the traditional automotive industry and providing users with a brand new smart electric vehicle experience.
NIO’s business model is mainly based on subscription, supplemented by user operation. NIO provides battery leasing services to users, and users can choose different battery leasing plans according to their needs to reduce the cost of car purchase. NIO provides users with rich car owner rights and value-added services through platforms such as the NIO App, creating a good user community and improving user stickiness.
As China’s leading smart electric vehicle company, NIO has always been committed to providing users with the ultimate product and service experience. In the future, NIO will continue to deepen the research and development of smart technologies, launch more new models and new services, further consolidate its position in the global high-end smart electric vehicle market, and bring users a better smart travel life.
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