Nio's William Li: Tesla's Price-Cutting Strategy May Not Work For Chinese Automaker
Nio's William Li: Tesla's Price-Cutting Strategy May Not Work For Chinese Automaker
Tesla Inc's (NASDAQ:TSLA) aggressive pricing strategy for its made-in-China Model Y vehicles may have led to abounding order flows for the electric vehicle maker, but its competitor Nio Inc – ADR (NYSE:NIO) isn't necessarily following suit.
What Happened: What works for Tesla may not be the right strategy for Nio, and every company has a different positioning and path, William Li, Nio's founder, chairman and CEO, reportedly said in an interview with a local media outlet, according to CN EV Post.
One car model cannot satisfy all users across the globe, and the key is whether a vehicle and the services offered are commensurate with the price, Li reportedly told.
Related Link: Nio's Li: New ET7 Takes Aim At BMW, Mercedes-Benz, Audi And Maybe Even Apple, But Not Tesla
Nio's innovative service offerings, such as lifetime battery exchange, free warranty and other benefits support the premium pricing of its cars, according to Li. The battery-as-a-service models, Li said, also makes its products affordable.
Although priced at a premium relative to German luxury models, Nio's cars are competitive in pricing, as they enjoy government new energy vehicle subsidies, the Nio CEO said.
Li also highlighted the fact that Nio's ES8 and ES6 were ranked first in the J.D. Power New Energy Vehicle Experience.
Click here to check out Benzinga's EV Hub for the latest electric vehicle news.
Why It's Important: Tesla is up against a slew of homegrown rivals in the Chinese EV market. Analysts are of the view the Chinese EV market can support multiple players that can thrive on their competitive advantages.
After being on the brink of bankruptcy, Nio has rebounded nicely with a product- and service-based focus.
At the Nio Day event held earlier this month, the company launched its fourth vehicle model and its first-ever sedan, the ET7.
NIO Price Action: Nio shares were down 1.44% at $57.60 at last check Wednesday.
Related Link: Nio Launches 'NIO Certified' Used Car Service in China Amid Competitive Pressure From Tesla
Photo courtesy of Nio.
Tesla Inc's (NASDAQ:TSLA) aggressive pricing strategy for its made-in-China Model Y vehicles may have led to abounding order flows for the electric vehicle maker, but its competitor Nio Inc – ADR (NYSE:NIO) isn't necessarily following suit.
What Happened: What works for Tesla may not be the right strategy for Nio, and every company has a different positioning and path, William Li, Nio's founder, chairman and CEO, reportedly said in an interview with a local media outlet, according to CN EV Post.
發生的事情：據報道，NIO的創始人、董事長兼首席執行官威廉·李(William Li)在接受當地一家媒體採訪時表示，對特斯拉有效的策略可能不是NIO的正確戰略，每家公司都有不同的定位和道路CN EV Post。
One car model cannot satisfy all users across the globe, and the key is whether a vehicle and the services offered are commensurate with the price, Li reportedly told.
據報道，一種車型不能滿足全球所有用户，關鍵是一輛車和提供的服務是否與價格相稱。
Related Link: Nio's Li: New ET7 Takes Aim At BMW, Mercedes-Benz, Audi And Maybe Even Apple, But Not Tesla
Nio's innovative service offerings, such as lifetime battery exchange, free warranty and other benefits support the premium pricing of its cars, according to Li. The battery-as-a-service models, Li said, also makes its products affordable.
據李説，NIO的創新服務產品，如終身更換電池，免費保修和其他福利，支持其汽車的溢價。這個電池即服務模式，李説，這也讓它的產品負擔得起。
Although priced at a premium relative to German luxury models, Nio's cars are competitive in pricing, as they enjoy government new energy vehicle subsidies, the Nio CEO said.
這位NIO首席執行官表示，儘管相對於德國豪華車型，NIO的定價較高，但由於享受政府新能源汽車補貼，NIO的汽車在定價上具有競爭力。
Li also highlighted the fact that Nio's ES8 and ES6 were ranked first in the J.D. Power New Energy Vehicle Experience.
李還強調了NIO的ES8和ES6在J.D.Power新能源汽車體驗中排名第一的事實。
Click here to check out Benzinga's EV Hub for the latest electric vehicle news.
點擊這裏查看Benzinga的EV Hub瞭解最新的電動汽車新聞。
Why It's Important: Tesla is up against a slew of homegrown rivals in the Chinese EV market. Analysts are of the view the Chinese EV market can support multiple players that can thrive on their competitive advantages.
為什麼它很重要：特斯拉在中國電動汽車市場面臨一系列本土競爭對手。分析師認為，中國電動汽車市場可以支持多個參與者，這些參與者可以憑藉競爭優勢蓬勃發展。
After being on the brink of bankruptcy, Nio has rebounded nicely with a product- and service-based focus.
在瀕臨破產後，NIO以產品和服務為重點，實現了良好的反彈。
At the Nio Day event held earlier this month, the company launched its fourth vehicle model and its first-ever sedan, the ET7.
在本月早些時候舉行的NIO Day活動中，該公司發射它的第四款車型和有史以來第一款轎車ET7。
NIO Price Action: Nio shares were down 1.44% at $57.60 at last check Wednesday.
NIO價格行動：在週三的最新檢查中，NIO股價下跌1.44%，至57.60美元。
Related Link: Nio Launches 'NIO Certified' Used Car Service in China Amid Competitive Pressure From Tesla
Photo courtesy of Nio.
照片由NIO提供。
譯文內容由第三人軟體翻譯。
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