William Li, the CEO of Chinese electric car maker Nio, said he would be incompetent as a CEO if the company didn't make a profit.
In a post on Weibo on Sunday, Li announced that the company had completed delivery of its 100,000th mass-produced vehicle in Shanghai, making it "the first Chinese brand with an average price of more than 300,000 yuan and 100,000 users" in the city.
Li claimed that half of Nio's users come from the Yangtze River Delta, the most competitive part of the market, which goes some way to demonstrating the competitiveness of Nio's products and services.
The Yangtze River Delta covers Jiangsu, Zhejiang and Anhui provinces and Shanghai, contributing to nearly a quarter of China's total economic output.
Currently, Nio has delivered more than 300,000 units in Jiangsu, Zhejiang and Shanghai.
The company disclosed that its share of the pure electric market above 300,000 yuan has now exceeded 40%.
Nio's flagship sedan, the ET9, was delivered at the end of last month, while Nio's ET5, ET5T, ES6 and EC6 models based on a new-generation platform will be launched one after another.
In addition, the L90, the second model of Nio's second brand ONVO, is expected to be launched in the third quarter of this year, with a price tag of less than 300,000 yuan.
Li said, "With the expansion of sales and service network, especially the promotion of battery swap stations county to county, there will be more and more provinces and cities Nio users exceeded 100,000".
At the event, Li also said that if the company is not profitable and can not continue to operate in a healthy manner, then he is incompetent as a CEO.
Li mentioned that he receives a lot of suggestions and although he won't adopt all of them, he sees them all because every matter has its own priorities.
Nio's earnings report released last month showed that the company realized a year-over-year rise in revenue and gross profit in 2024, with a gross margin of 9.9%, up 4.4 percentage points from a year earlier.
However, its net attributable profit was still a huge loss last year, with a net loss of 22,657.7 million yuan ($3,104.1 million), further expanding by more than 7% year-on-year.
