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As Tesla builds its second "gigafactory" in Shanghai, its biggest national competitor is ready to play hardball.
Nio, an $ 8 billion electric car manufacturer that began trading on the New York Stock Exchange last year, is rapidly gaining momentum throughout China and is expected to hold Tesla remote.
In a 60-minute interview aired on Sunday, founder and CEO William Li – who has not denied having called his company a "Tesla killer" – compared Tesla's vehicles to high fashion garments.
"It's as if the models wore clothes at the catwalk," he told Tesla's Chinese cars. "It's not the same thing" They can be beautiful, but you can not wear them every day. "
The comparison continued to include the mannequins.
"So Tesla is the model and you are the girl next door?" asked correspondent Holly Williams. "Yes," replied Li.
True, Nio only produced 10,000 cars last year. Although Tesla does not disclose unit sales in China, it generated $ 1.75 billion in revenue for the country in 2019, or about 8% of its global total. Eight percent of Tesla's global shipments total nearly 20,000, assuming the same proportion of revenue and deliveries.
Michael Dunne, a Chinese auto analyst interviewed as part of this segment, said that there could be a place for both companies.
"There is a lot of market here to allow Tesla to play and Nio to play," he said, adding that time could be counted for the US to catch up with the growing advance of the China on the production of electric vehicles.
"It is not too late," said Dunne about the relatively slow adoption rate of the United States. But, he warned, "If we wait until 2025, China will earn 5 million a year, and if we still have half a million." Now, all the technology and technology will be there. Design engineering are concentrated in China, with that? "
Watch the full segment of 60 minutes here.
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