Nio, a prominent Chinese automaker, has set ambitious goals to be among the Top-10 biggest automakers globally by the end of 2035. The company’s co-founder and CEO, William Li, emphasized the need to double their efforts to keep up with their “excellent Chinese peers.” Li shared his vision for the future of the automotive industry during a media conference, highlighting that at least half of the Top-10 automakers by 2035 will be Chinese.
Currently, BYD is the leading Chinese brand in terms of vehicle sales, with over 3.74 million vehicles sold in the first 11 months of 2024. With a net worth of 107.6 billion USD, BYD has surpassed the Chinese automotive giant SAIC Group in sales. Other top-tier Chinese automakers include FAW, GAC, Geely, BAIC, and Dongfeng.
In contrast, Nio has sold less than 200,000 cars globally in the same period, with a net worth of 9.46 billion USD. To boost sales and compete with its domestic rivals, Nio plans to introduce the new Firefly EV brand and expand its Onvo brand in the mainstream EV segment. These initiatives are crucial for Nio’s success in the highly competitive automotive market.
As Nio aims to achieve its goal of entering the top 10 automakers list by 2035, the company must focus on innovation, product development, and market expansion. With the rapid growth of the Chinese automotive industry, Nio faces stiff competition from established players and emerging brands. By staying ahead of the curve and meeting consumer demands, Nio can secure its position among the top global automakers in the future.
