NIO's Li Bin responds to next year's car market competition: The competition in the automotive industry is always fierce, to survive we must take it slowly.

On November 21st, Li Bin, the founder, chairman, and CEO of NIO, responded to next year's competition in the car market during a group interview at the Guangzhou Auto Show, stating that every year the automotive industry is brutally competitive, and the competition in smart electric vehicles has entered the so-called "final stage." He believes that the competition in smart electric vehicles will reach the final stage in 2024-2025, and NIO is very fortunate to still be in the finals today. The R&D and infrastructure investments made in the past few years are starting to pay off. This competition has no end, with both traditional private companies and state-owned enterprises accelerating their layouts. The real stability may take 10 years to materialize, the key is to persevere, develop steadily, and survive.