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2023-03-15

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Nio Won't Get Involved In Price War, Exec Says

China's auto industry is facing cyclical swings in the transition to electrification that can't be weathered by price wars and require automakers to stick to brand values, an NIO e ...

Nio Won't Get Involved In Price War, Exec Says

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The company started from the beginning with a desire to give users a highly configurable, high-quality-of-service experience, he said.</p><p>Pu said he suggested to the company&#39;s management at the time of the ET5&#39;s launch that it could lower the barrier to purchase by eliminating the free battery swap benefit, but that was vetoed by Li.</p><p>The ET5 is a good value when compared to competitors in the same price range as it, especially in terms of intelligence and performance, he said.</p><p>NIO believes that improving service quality will be an effective means of dealing with the competition, including adding 1,000 new battery swap stations this year, he said.</p><p>The penetration rate of NEVs in China will be higher this year, and the total market segment of high-end EVs will be larger, so NIO is expected to achieve better growth, Pu said.</p><p>New products will be an important card for NIO this year, as the company will have more core products on the market this year and delivery is expected to be smoother, he said.</p><p>As for the lower-priced EV market, NIO will cover it through sub-brands, including one codenamed ALPS, he said.</p><li></li></body></html>","source":"cnevpost_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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The company started from the beginning with a desire to give users a highly configurable, high-quality-of-service experience, he said.Pu said he suggested to the company's management at the time of the ET5's launch that it could lower the barrier to purchase by eliminating the free battery swap benefit, but that was vetoed by Li.The ET5 is a good value when compared to competitors in the same price range as it, especially in terms of intelligence and performance, he said.NIO believes that improving service quality will be an effective means of dealing with the competition, including adding 1,000 new battery swap stations this year, he said.The penetration rate of NEVs in China will be higher this year, and the total market segment of high-end EVs will be larger, so NIO is expected to achieve better growth, Pu said.New products will be an important card for NIO this year, as the company will have more core products on the market this year and delivery is expected to be smoother, he said.As for the lower-priced EV market, NIO will cover it through sub-brands, including one codenamed ALPS, he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":59,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":9,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}