NIO Aims To Rank Among Top 5 Biggest Automakers By 2030: CEO via insideevs.com
Chinese EV startup NIO wants to be one of the top five automakers in the world by sales by 2030, the company’s co-founder, chairman and CEO William Li said.
NIO sees the demand for smaller cars and that's why it has decided to set up a sub-brand that will offer cheaper models designed for the global market. Li previously said that the relationship between the new mass-market brand and the NIO brand will be. He also noted that NIO's new brand would undercut Tesla on pricing while offering a superior experience.
Granted, this sounds overly ambitious for a company that only started delivering cars four years ago and has yet to turn a profit. Asked when will NIO become profitable, the CEO replied that it will happen much faster than it did for Tesla."As a startup, it takes a while to be profitable. We have invested a lot in the development of our cars and infrastructure and thus in the future. We have a well-coordinated plan to generate profits step by step.