Nio Founder Calls for Openness in Chinese EV Market

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Nio,Chinese EV Market,Openness

William Li, founder of Chinese electric vehicle (EV) maker Nio, advocates for an open and competitive market in the United States, highlighting Tesla's success in China. Li believes that competition and openness will benefit the industry and lead to greater investment and success.

SHANGHAI: Chinese electric vehicle maker Nio's founder called for openness in a rare speech in the United States, where politicians have been seeking to further restrict China's access to the world's second-largest auto market.

"Competition will lead to greater investment, longer time to break even, less margin for mistakes and lower chances of success," Li said, according to a transcript of his speech provided by the company. A European Union is investigating Chinese EV makers such as BYD, Geely and SAIC could lead to tariffs over the subsidies.

 

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