Nio, who first fired several employees and then the boss in Denmark, believes that the brand can become one of the world's ten largest car groups.
Forget Toyota, Volkswagen and Stellantis. Because if you believe the Chinese Nio, Nio should be at the top of the automotive industry.
At least that's what the car brand's CEO and founder William Li thinks. He predicts that in just a few years, the five largest car brands in the world will all come from China.
Li said this when he was recently interviewed by the Chinese press. He believes that the Chinese will dominate the entire automotive industry as early as 2035.
IT Home writes.
However, his products have failed to impress. And certainly not in Denmark, where both the CEO and most of the employees are gone. Read more about it here.
Nio, which has sold just 5 cars in Denmark this year, and is thus doing worse than the bankrupt Fisker Inc., is also in serious financial trouble. In May, it emerged that the Chinese are losing 122,000 kroner on every electric car they send out of the factory.
Instead, they are trying to revive the business with a spin-off of a low-cost brand called Firefly . However, Nio is not the only Chinese brand that is struggling. HiPhi, which was otherwise praised by several Nordic journalists for actually living up to its own stories about range, has already succumbed.
But back to William Le. Because he is certainly not the first boss of a new car brand with very big ambitions.
The founder of the mobile phone company Xiaomi, Lei Jun, said as early as 2022 that he wanted to be among the world's largest car manufacturers. That was a year before he started production of the scandal-hit SU7 electric car.
