China EV maker Nio urges openness in US speech amid tensions
)'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. Tensions are rising between China and the West over Chinese EV exports, which Washington and Brussels say are heavily subsidised by the state and could harm domestic automakers.Few Chinese-made EVs are sold in the U.S. market, where they already face steep tariffs. China's biggest EV maker, BYD, said it had no plans to sell its cars into the country.
Li has said Nio was studying the feasibility of selling into the U.S. on a quarterly basis. In the Chinese market, with a lineup priced from 298,000 yuan for the premium segment, the automaker sold 30,053 EVs in the first three months, compared to 132,420 vehicles sold by Tesla.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's Nio and CATL team up to develop longer-life EV batteriesChinese electric vehicle maker Nio has signed a partnership agreement with battery giant CATL to develop longer life batteries as part of efforts to lower overall EV costs.
Read more »
China's Nio to expand battery swap services to gain an edge on EV infrastructureBattery swapping takes only a few minutes and is expected to better address consumers' driving range concerns.
Read more »
Welcome Global Talents to West China Hospital/West China School of Medicine of Sichuan University - Chengdu, Sichuan, China job with West China School of Medicine/West China HospitalWest China Hospital/West China School of Medicine of Sichuan University (WCH/WCSM, SCU) was founded in 1892 and recognized as a national general hospital and a diagnosis and treatment center for complex and critical illnesses, as well as a renowned medical school in China.
Read more »
Postdoctoral Fellowships at West China Hospital/West China School of Medicine of Sichuan University - Chengdu, Sichuan, China job with West China School of Medicine/West China HospitalAbout West China Hospital/West China School of Medicine of Sichuan University West China Hospital/West China School of Medicine of Sichuan University (WCH/WCSM, SCU) was founded in 1892 and recognized as a national general hospital and a diagnosis and treatment center for complex and critical illnesses, as well as a renowned medical school in...
Read more »
BMW i5 vs Lucid Air vs Nio ET7 group test reviewCAR magazine UK compares the new BMW i5 with the Lucid Air Touring and Nio ET7
Read more »
NIO's New ONVO And Firefly Brands Aim For Mass Volume In EuropeNIO's CEO stressed that ONVO is a medium-tier brand meant for families. Both are likely headed to Europe and beyond.
Read more »