NIO's Li Bin: New Energy Vehicles Have Become a Calling Card for Chinese Manufacturing and Innovation

Deep News12-09 19:32

At the "2025 China Entrepreneurs Influence Annual Conference" held in Beijing from December 5 to 7, NIO Inc. founder, chairman, and CEO Li Bin delivered a speech highlighting the remarkable growth of China's new energy vehicle (NEV) sector.

Li Bin stated that NEVs have become a hallmark of Chinese manufacturing and innovation. From 2018 to the present, China's annual NEV sales surged from less than 1 million units to over 10 million units last year—a tenfold increase in just seven years. The momentum continues in 2025, with sales exceeding 11.5 million units from January to November, while NEV penetration in new car sales reached 59.8% in November alone.

"This growth has outpaced even my expectations when I founded NIO in 2015," Li remarked. "Although internal combustion engine vehicles still dominate the total vehicle population, NEVs are now the mainstream choice for new car buyers."

He also noted a significant shift in 2025: pure electric vehicle (BEV) sales growth has surpassed that of plug-in hybrids (PHEVs) and extended-range electric vehicles (EREVs). While PHEVs and EREVs—particularly the latter—dominated growth in recent years, BEV sales rose by over 30% year-on-year in the first ten months of 2025, exceeding 6.2 million units. In contrast, EREV sales stagnated, with their market penetration declining.

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