Product details

Founded in November 2014, NIO Inc. (NIO) was a global electric vehicle (EV, EVs) manufacturer headquartered in Shanghai, China. NIO manufactured a new generation of premium smart EVs that delivered a 'superior performance and unique user experiences'. NIO set itself apart from its industry rivals via its series of technological revolutions as well as innovations which included 'industry-leading battery swapping technologies, Battery as a Service, or BaaS, as well as its proprietary autonomous driving technologies and Autonomous Driving as a Service (ADaaS)'. NIO competed with Tesla, Inc. (Tesla) in China with these technologies. Though Tesla was the market leader in the EV space, NIO tried to establish itself as the 'Chinese Tesla'. However, NIO and Tesla faced significant operational and vehicle margin pressures as they navigated the highly competitive and rapidly growing EV market. NIO's ambitious new models, operational challenges, particularly during the COVID-19 pandemic, and Tesla's focus on manufacturing efficiency and cost reduction via its next-generation platform reflected the enormous pressures for EV companies. But despite difficulties, both companies emphasized innovation and growth. Given this scenario, would NIO beat Tesla and become the market leader in the global EV space?