NIO, one of China’s leading NEV brands, has revealed how it is solving its slow production ramp-up. The CEO touched on this and other subjects about the company in a wide-ranging interview, as reported by Pandaily.
Co-founder and CEO of NIO, William Li, fielded questions during the launching ceremony of a NIO Center in Dongguan, Guangdong Province.
NIO’s production output has disappointed analysts and its own guidance so far in 2022. The EV maker projected 160,000 vehicles for the year. However, by the end of October, the company had managed only 92,400 deliveries, ensuring it wouldn’t meet its target for the year.
Making matters worse, October figures showed a decline. However, the reason was the closure of two key factories due to the pandemic.
Li said NIO’s strategy of using different models to meet various market demands clashed with the troubled supply chain. However, the company would shift focus from monthly delivery volume.
NIO has also dispatched its employees to assist its partners in solving the problem of increasing production capacity.
Li was also asked if NIO would release an MPV, but the CEO answered there were no such plans. The CEO also mentioned that NIO branded phone, rumoured to be coming next year, will feature more smart ways to interact with NIO cars.
Earlier, Li said NIO would attain profitability faster than Tesla. He expects this to happen in two years’ time.
NIO is expanding overseas. It deployed its first battery swap station in Germany in September, ahead of the ET7’s launch in the country.