NIO Li Bin completed the 1,000-kilometer endurance challenge and responded to everything in a 13-hour live broadcast

Author: Zhang Xiaojun

Producer: Tencent News "High Beam"

Starting at 6:30 a.m. on December 17, 2023, Li Bin, founder, chairman and CEO of NIO, and Huang Chenxia, general manager of Tencent News Operations, started a journey of testing battery packs. They set off from Shanghai to test NIO's "150-degree battery pack" and challenge themselves to drive a distance of 1,000 kilometers. The challenge was completed at 7:43 p.m.

Soon after the live broadcast began, Li Bin suggested that all important evaluations of automobile companies in the future should be tested by the CEO in person. "Isn't that good?" Mr. Li said. In the process, Li Bin directly connected with He Xiaopeng, chairman and CEO of Xiaopeng Motors, to interact, Li Bin said: "You have been so popular in X9 recently, and I strongly recommend a live broadcast." ”

In addition, during the more than 13-hour live broadcast, Li Bin answered questions about the rise of China's auto industry, the great changes in the global industrial landscape, as well as management, capital and finance, and life. He also commented on some recent hot topics, such as "News Queen", Yu Minhong and Dong Yuhui.

He judged that in 10 years, five of the world's top 10 auto groups in 2035 will be Chinese companies.

At the same time, he called on Chinese auto companies to establish a synergistic mechanism for global market entry as soon as possible. If we fail to establish the common competitiveness of China's auto industry, "we will really waste the opportunity of such an era."

Here's a look at the best of their conversation on the test road.

Talk about the cause of this event

Huang Chenxia: Actually, I'm curious, when did you start to have this idea - to test the 150-degree battery?

Li Bin: First, 150-degree battery pack users and the industry are very concerned. The 150-degree battery pack is the most advanced battery pack technology in the world's mass production. We have completed the announcement and testing of all models, and recently started the ramp-up phase. Delivered to users in the near future.

The second is that some time ago, we had three Dutch users who spontaneously went to participate in a competition. This is a tradition in Europe, and it is 6,000 kilometers from the northernmost part of Norway to Spain. To see which car drives fast and takes the least time, you should take into account the energy replenishment facilities. The ET7 had a good range, and the three of them took turns to drive it, completing 6,000 kilometers in 72 hours and 51 minutes. It's crazy. We are number one. Now the energy consumption is 14.5, which means that we can challenge 1000 kilometers.

At the end of September last year, I worked with (Qin) Lihong in Munich, Europe for 10 days, all the way to test the performance of the European ET7 and the team's work and infrastructure along the way. It took us 10 days to get to Oslo. Every year, we have to have an interesting trip.

Isn't there a lot of various tests of battery life recently? In the future, it is recommended that the CEO should come up and test it himself and do a live broadcast, isn't it good?

Huang Chenxia: Your suggestion is very good, to improve the most important evaluation standards of the industry's automobiles, you have to test it by the CEO himself. CEOs can handle it, and ordinary users must be similar.

Li Bin: Yes.

Huang Chenxia: I remember that not long after NIO was founded, it came up with the idea that where the oil truck could go, the tram should be able to go. Is it infinitely close or realized today?

Li Bin: We now have more than 2,200 battery swap stations, more than 20,000 charging piles, and many third-party piles, as well as battery packs. I would like to say that where gasoline trucks can go, electric vehicles can go, and today for NIO users, it should be a fact in China. This goal is not easy. It's been a long process. I said this in 2017, almost 6 years ago.

Now NIO has laid out more than 70 power-up landscapes. For example, if you want to go to Mohe, you want to go to the Everest base camp, and Duku Highway, there are already destination charging cables. These places are called power-up landscapes, and you don't usually go often, but if you want to go, can you support you to go, after the hard work of our team in the past few years (it has been realized).

Huang Chenxia: Is the power-up landscape currently exclusive to NIO owners, or can it benefit more trams?

Li Bin: Charging is open to the public, and more than 80% of the power of our charging facilities is used by brands (car owners) other than NIO.

Many people know that NIO battery swap, we are the hardest working car brand in China to do charging. We now have more than 20,000 charging piles, including supercharging piles and power-up landscapes, all of which are open for use. We have now announced the battery swap to the public. More than 100 car brand users will use our charging stations. Everyone is starting to build infrastructure, and the user experience of electric vehicles is definitely getting better and better.

It can be recharged, swapped and upgraded. Today it is said that it can be upgraded, the biggest significance of 150 kWh, usually 75 kWh, occasionally go out to change to 150 kWh, 75 kWh ET7 open, the announced mileage is 530 km. You drive this, we announce that the battery life is 1050 kilometers, which is basically doubled. More than 1,000 kilometers, basically the main limitation is physical strength, not batteries. Most oil trucks can't go that far.

Talking about "The Queen of News" and management

Li Bin: Recently, there is a film called "News Queen", have you watched it?

Huang Chenxia: It's very good, and it has a vivid portrayal of all aspects of the workplace. I discussed a sentence with them some time ago, and I just happened to ask Brother Bin for advice today.

At the time, there were quite a few people who quoted that a company had one-third of the people working, one-third of the people lying flat, and the other one-third of the people holding back the work. What do you think of this sentence as a serial entrepreneur? This essentially talks about the organizational management and human nature of the company.

Li Bin: Speaking of myself, I am almost one-third of me who want to work hard, one-third of whom I want to be lazy, and one-third of whom I do by habit. I think it's normal. No one is perfect, and no organization is perfect. We still have to be realistic.

Huang Chenxia: As a CEO and leader, how do you identify one-third of people who work hard?

Li Bin: This one is still very easy to identify. A company should have basic performance evaluation standards. What's the key? As a CEO or manager, you have to face your heart. You have to know that there are people who disagree with you, but they are for the benefit of the company, for the benefit of users, and you have to respect that. Many times if you are a realistic person, it is easy to evaluate.

If you can't be true to yourself, you won't be able to make an objective assessment of others. Many times it is a mirror of oneself, which is the upward and downward effect. You're the CEO, you're the kind of person, and so is the person you're minus. Most of your minus one layer is like this, and so are the people below. This is the culture of the company. We will put sincerity first.

Talk about the original intention and pressure of entrepreneurship

Huang Chenxia: When I started my business in 2012, what was my dream?

Li Bin: I have set myself a few goals. First, we hope to become a world-leading smart electric vehicle company. It's not easy. At that point in time in 2012, although China's auto industry was large, I felt that smart electric vehicles were an opportunity.

Second, in 2012, when the smog in Beijing was relatively serious, I was still working on Yiche, and I felt a little guilty. Encourage everyone to buy a car, especially if the smog in the north is so serious, I still feel that something should be done.

It has something to do with the stage of my life, and I am going to be a father in 2013 and 2014. It's almost 40, my 1974 one, and I think there should be some requirements.

Thirdly, I think there should be some change in the way the automotive industry serves users, and we need to be a user enterprise - these three things make me think like this.

But after doing NIO, the quality of life has dropped too much compared to before.

Huang Chenxia: The decline in quality of life is mainly due to working day and night.

Li Bin: It is very difficult to be a start-up company in the automotive industry, and the threshold of capital, technology, and all aspects is very high. The technical threshold is not like opening a restaurant, maybe it just needs to compete with the people around it. The automotive industry has to compete with giants as big as the global automobile. In this process, we need to invest in technology, talent, and capital, and how can we keep up with all aspects? No one is a god in the middle, and there is a process of learning Xi. The cost of any mistake is very high. So it's stressful.

Many of our friends say that I am aging at a rate that is visible to the naked eye.

Huang Chenxia: The Internet often talks about iteration, and sometimes the cost of reversibility is low, but the cost of trial and error is obviously a bit high.

Li Bin: Very high. For example, if you define a car accurately, your judgment of the user's needs is not so accurate. Because you're judging the change in demand in two or three or three or five years, if you want to correct this, you're going to have to wait a few years. A few years of market window may be wasted. You have invested billions of dollars in a car, and it will take several years to correct your mistakes before you have this opportunity. As a startup, you have to live. Second, your investment, your mold, not doing very well, may be at least a price of millions or tens of millions.

Huang Chenxia: I know the cost of 3D printing.

Li Bin: There is also the ever-changing market competition. Whatever the marketing strategy is wrong, the cost of error correction is very high. For example, inventory forecasting, if your production forecast is a little worse, it will not work. We all paid a lot of tuition – every, very much for everything.

谈即将来临的NIO DAY、官宣新车型ET9

Huang Chenxia: Next weekend's NIO DAY, there will be a lot of information coming out one after another, saying that a new car will be released at NIO DAY this year. Are there any spoilers that can be spoiled?

Li Bin: This is called an official spoiler, on December 23rd, NIO DAY will release our executive flagship sedan ET9.

Executive flagships know that like Maybach, BMW 7 Series, A8 and some more sporty styles, such as Porsche's Pame. This market has always been a market that Chinese brands cannot enter. We believe that in the era of smart trams, the executive flagship has always been the flagship of technology. How to define the executive flagship in the era of smart electric vehicles, I think Chinese companies certainly include NIO, and we have the opportunity to participate in such a definition.

Our release of ET9 this time is also to show the entire industry and the public who care about us, a crystallization work that we have devoted ourselves to research and development in recent years, and it is also the crown jewel on behalf of the smart electric vehicle industry to challenge the real high-end brand. That's where we started.

When NIO DAY released the first generation of ES8, the industry saw our enterprising spirit, we had too many original technologies at that time, and today you can understand that we have gone through primary school to middle school, and now we are handing in a new answer sheet. It's been a lot of work we've been putting into it for so many years.

Huang Chenxia: In the smart electric vehicle market, especially in this year's environment, the market competition is fierce, everyone emphasizes cost performance, we take a step backwards to look at the high-end, which in my opinion is the first in the world. Some people will say, I don't want to do such a big R&D or forward-looking investment in the early stage, and I will do it after the market is more mature or competitors are a few steps forward, what do you think?

Li Bin: It depends on which part of the market you are targeting, which is very important. If you are a user in the high-end market, such as the executive flagship must be the technology flagship, if you are not the technology leader, how can you be embarrassed to say that you are a high-end brand?

This is not simply to say that you sell the price of the car a little higher and you are a high-end brand, a high-end brand means the leader of innovation. If you're targeting a high-end brand, you have to keep the technology invested, otherwise the brand won't have a supporting base, including services.

If you're targeting a mass-market brand, and your competitor is Toyota, and in some of the family car market, you're using some mature technology or transitional technology, or you don't necessarily have to be that high in everything, I think it's understandable.

Your positioning determines your strategy. There may not be a good or bad between. Every successful company has its own path to success – Ferrari has its own path to success, Toyota has its own path to success, and from 2012 when we had an idea, we decided to start from the high-end, and only by positioning ourselves as a high-end brand can we apply this innovative technology. Technology requires sustained long-term investment.

What are we doing? First enter the high-end market through the NIO brand to lay a foundation for our technological innovation and provide a platform. Then through our second and third brands in the mass market, these technologies will serve more users, such as intelligent investment, and some technologies related to electric and automobiles, including battery swapping and charging, can be applied to more models, so as to design cars with lower costs for the mass market.

Huang Chenxia: Brother Bin, can you talk about NIO's technical layout over the years? What kind of business needs to be self-developed, what kind of business is good through mergers and acquisitions, and what kind of business needs to be done by others or partners through industrial division of labor?

Li Bin: We did the Innovation Technology Day NIO IN, which is called 12 technology full stacks, because smart electric vehicles have once again made the automotive industry the commanding heights of scientific and technological innovation and a highland.

In such an era of change, how to define the technology of intelligent electric vehicles? In the past, you said that the engine and gearbox are the core technology of the car, but now this is only a part of it, because there are many intelligent in it, and there are many drive systems in the electric car, you are like a battery, right?

Our company's R&D colleagues report directly to me, and more than a dozen R&D colleagues report directly to me. Just kidding, I think I'm also a science student, even though I'm a liberal arts graduate.

From the first day of NIO's establishment, we have set ourselves the goal of participating in the global competition of smart electric vehicles. Just like why in the early days of our business, Tencent has been very supportive as our investor until now, because we have set such a goal.

In the past, the car was a mechanical product, and if music was compared to playing drums, it was better to unify the rhythm. But now, some things are updated every year, such as chips, some things may be updated every four or five years, some things may be updated every two or three years, and some things are evolving every day or even every second, like the current AD system. How can so many such complex systems become a unified system in the era of intelligent electric vehicles? The whole capability is very different.

I also take music as an example, which is now equivalent to a symphony, drums and pianos, violins, all kinds of orchestral music, all kinds of things. A symphony is certainly more complex than playing drums alone, but it's also much more infectious and experiential.

Huang Chenxia: Let me insert it, how much is ET9, does it cost 1 million?

Li Bin: In terms of styling, you know that the whole style of Weilai modeling is more restrained, we have our own pursuit, and it is more in line with the taste of administrative flagship users, so in general, you can think, do you want to buy more than 1 million Maybach, Pammel, or buy our ET9?

Talk about Yu Minhong, Dong Yuhui and the media incentive mechanism

Huang Chenxia: I remember that Mr. Yu (Yu Minhong) had a book in the past two years, and I was quite impressed: "I Was on the Verge of Collapse". He shared with you the blue wisps and highlights of doing business along the way, I am thinking, it is not easy for many entrepreneurs to do business, and many entrepreneurs will have similar ones who have been on the verge of collapse, I would like to ask you.

Li Bin: Everyone still has to respect entrepreneurs, respect entrepreneurs, whether it is success or failure, difficulties or smooth sailing, whether it is the highlight moment or the bottom, the darkest moment, entrepreneurs are all-round investment in creating jobs, adding vitality to the society, even if it may be two or three people small company, or street shops, etc., I think all this kind of people who are willing to go all out to do things, of course, including the profession of some jobs are the same - should respect everyone who takes their work seriously, People who take life seriously. As long as he does not break the law or violate social and public morality, it should not simply ridicule success or failure.

Huang Chenxia: Don't simply label everyone, life is very long, everyone is rich enough, and there is a problem with labeling. Don't be too single in the definition of success, too single will be a single-plank bridge, which will only involute.

Li Bin: You are very right, he may be a failure in the eyes of others, but he has no regrets and can be worthy of himself and the world.

Huang Chenxia: Yesterday, I watched the live broadcast response of Mr. Yu and Mr. Dong (Dong Yuhui), Mr. Dong said a sentence, everyone has some excesses in the situation of stress and anxiety, this is human nature, you may have said something that has not really been in your head, the words are a bit hurtful, at this time, whether the people around you can understand and tolerate will make the world different.

Li Bin: The current social media or media feedback incentive mechanism is easy to make extreme views have traffic, which will promote a lot of bad social atmosphere, this is no matter what you have to face this kind of thing, just like we have always been a black recruitment system no matter what. I'm okay myself.

The stalk of fuel vehicles, I have been deeply educated myself over the years. Everyone who buys a different car, or who doesn't buy a car, has their own reasons, and in such an environment, we need to avoid being brought into this extreme context.

Response to "Good Guy Li Bin"

Huang Chenxia: It seems that your employee's parents say that my child works at NIO, and "Li Bin is a good boss". Later, everyone said "good man Li Bin".

Li Bin: How do you feel sarcastic?

It's very interesting now, because NIO has a lot of peers, and the media says that NIO is a long-term company, and I now say that we are still, if you want to talk about long-termism, it is easy to say that it doesn't matter if you are short-term execution? That's definitely not.

It's easy to take it as a culture and use it as an excuse for not doing well in the short term, so I have been telling everyone in the company recently that we must not do a good job in short-term execution because we have a lot of long-term thinking, and long-termism is not an excuse for not doing a good job in short-term execution.

Huang Chenxia: Do you think "good guy Li Bin" is a compliment for a CEO?

Li Bin: I think most people feel that they want to be the kind of horizontal knife, full of wolf nature, decisive killing, different people have different management styles, I often say that the position and principles should be firm, but your means should be more flexible.

Huang Chenxia: To sum up two, one is to be long-term, but long-term thinking should not be an excuse to affect action; if it is from the perspective of good or bad people or leadership, we must first have strategic determination

Li Bin: There needs to be some empathy, there needs to be inclusiveness, and there needs to be adaptation to external changes, and there is really no contradiction between the two.

Huang Chenxia: Another is the bottom line, there is a bottom line in doing things, which is too important to the world.

Li Bin: It is very important that people can be able to control their hearts in the end, which is actually very important.

Talking about the rise of China's automobile industry

Huang Chenxia: What do you think of the current global automotive competition landscape, and how may the global automotive competition change in the next three to five years?

Li Bin: What do I think is a good historical change in the auto industry this year? China's auto exports have jumped to the first place in the world, which is a landmark event.

Another landmark event is that the market share of local Chinese brands in China is 60%, from less than 40% to 60%, both of which confirm my judgment a few years ago that smart electric vehicles are a historic opportunity for China's automotive industry to lead global change.

In recent years, I have done a combing, that is, smart electric vehicles are three particularly large industries, that each industry has four success factors, what is this success factor?—— first of all, the market size, your own market size is not large, this is very important, your local market is not big enough, you are very difficult; the second is your supply chain foundation, your supply chain system is not strong; the third is your talent and technical capabilities; the last is whether your industrial policy is stable and sustainable, and the goal is clear. If you look at the three major industries × four success factors, you look at them all, which is equivalent to having 12 success factors.

If you think about it, the smart electric vehicle industry for China is in these 12 fields, and these 12 success factors are all able to participate in global competition, which I think is one of the best. Needless to say, the market size, the supply chain is needless to say, talent technology I think China has cultivated a lot of talents in this area over the years, and they are a group of people who are very hardworking, and they are also very dragged, and there are good and bad ones, but no matter what, this competition can be opened, competition will definitely make everyone grow faster, and the industrial policy is indeed very sustained, and the goal is very clear.

You see any other place is more difficult, Europe has its challenges in terms of intelligence, European industrial support policies are not bad, but Europe's intelligence has always been a short board, whether it is software or hardware. Of course, the relative cost of supply chains in Europe is also higher. In the case of Japan, its local market is definitely smaller, and its industrial policy is not particularly clear about these things, and they are relatively contradictory and hesitant. The United States, the basis of their supply chain is not too competitive, the cost is indeed too high, and the United States also has an industrial policy, because it is a bipartisan politics, the Republican Party came to power, he does not recognize such a thing as global climate change, the Democratic Party still has its own policy proposition on climate change, but they will change the old way.

So if you look back, China's smart electric vehicle industry, because we have such a big market, we have every opportunity to participate in the transformation of such a car. If we only look at new energy, it is true that China now accounts for more than 60% of the world's new energy vehicles, and this year may not be enough. This is a very remarkable achievement, of course, there are a lot of excellent companies in it, each of them is very good, and many of them are all kinds of innovations. We will definitely take advantage of this large local market and will definitely start to enter more other markets. This will be a historic opportunity for China's smart electric vehicle industry.

Huang Chenxia: The world's largest exporter of automobiles.

Li Bin: This is a very historical thing, I really still feel very emotional, because I did Yiche in 2000, I first entered the automotive industry from the perspective of the Internet, China has more than 2 million cars a year, and there are only hundreds of thousands of family cars, and now it is a few tenths of a tenth, and the family car may only be more than one-fiftieth of what it is now, which is hard to imagine. In less than a decade, China has become the largest producer and consumer of automobiles, and I think China's new energy vehicle industry has really made great achievements in the past decade.

Even the battery of our car today, when we first established the project in 15 years, we saw that Samsung's battery was one to two years ahead of the CATL battery in all aspects, and in 16 years, we were only one year ahead of the evaluation, and then because of THAAD and many events, China used South Korea's battery is not so suitable, we changed CATL from a secondary supply to a main supply, you see that CATL has become the world's largest battery power manufacturer in recent years, leading the development of the entire global power battery industry from a prefecture-level city in Fujian。

Huang Chenxia: A company transforms a city.

Li Bin: Very remarkable achievement. This is the beginning of the leadership in all aspects, not only the leadership of scale, including the leadership of cost, but now the leadership of technological innovation. It's true that five years ago it was difficult for me, there was no way to imagine the energy output of our car today at 360 watt-hours per kilogram, and it was the first mass production in China, you can hardly imagine this, but today it has become a reality.

China has the soil for innovation, has such an industrial foundation, and has the 12 key success factors I just mentioned.

Huang Chenxia: The future is great.

Li Bin: This is the underlying logic, although sometimes the international political situation is also ever-changing. But I think the opportunities outweigh the risks.

Evaluate U.S., Japanese, South Korean, and European automakers

Huang Chenxia: In such a pattern, there are several core forces in the world, such as European car companies, Japanese and South Korean car companies, as well as American car companies, including Chinese car companies, how does Brother Bin see the next three to five years, and what changes may occur to the main car companies?

Li Bin: Who has been the winner in the global auto market in the past 30 years? Recently, there was a headline saying that when he saw Toyota's profits, Wei Xiaoli was silent. There is no doubt that Toyota has been the most successful company in terms of global management metrics in the past 30 years, and it has matched everything in the era of gasoline vehicles, including the era of hybrids. Last year, Hyundai and Kia did not sell well in China, but last year Hyundai and Kia sold more than 6 million cars worldwide, which I think is very interesting.

With a global scale of more than 30 million vehicles, our Chinese brands, assuming that China accounts for 60 percent of the share, or Chinese brands that account for exports will not be able to break through 20 million vehicles, in fact, there is still a big gap with them. I have a basic judgment that in the next 10 to 20 years, the main competitors of Chinese auto companies in the world will be Japanese and South Korean companies.

Japanese and Korean companies, we first compete with them in the local market, we see that Korean companies are basically difficult, in China, whether it is Hyundai or Kia, the second-tier lineup is very difficult, it has been proved that they can not compete in China now. Japanese companies, the market share in the past two years has fallen very sharply, in the first half of this year it seems to be 17, but recently it has been 14.

I have a vision of my own, and in ten years, I estimate that five of the top ten automotive groups in the world will be Chinese companies. This is the flag I set for the entire Chinese auto industry. This is my basic judgment.

Huang Chenxia: I just talked about Japan and South Korea, what Brother Bin means is that in the next five to ten years, Japan and South Korea may not be competitive in other markets outside the domestic market, and when they meet Chinese companies in a narrow way, they may still be better than Chinese companies?

Li Bin: This is certainly not so easy, of course we have ambitions in this competition, but back to the real reality, in fact, these international counterparts also have a very big advantage.

Huang Chenxia: What do you think of European companies, because I read a comment in the afternoon, and one user asked you specifically, because we said in the morning that a user in the Netherlands drove an ET7 for more than 6,000 kilometers, so I asked what experience precipitation NIO had after entering the European market, where lessons have been learned, and where have opportunities been found?

Li Bin: I admire the determination of European car companies to change. The strategic formulation ability of European car companies is still worth learning Xi. I'll give you an example, take Volkswagen as an example, whether it's a partnership with people like Xpeng or a partnership with Horizon, including the fact that they have set up the largest R&D center in Hefei besides Langbao. This is the same as they did thirty or forty years ago, they recognized the huge opportunity in the Chinese market, and they recognized the huge opportunity to use China as an R&D center.

I gave a speech in Munich in September this year, at first everyone looked at China as a market, and then China as a supply chain base, and now many European car companies are regarded as a research and development center, which is actually quite far from a strategic thinking perspective.

They are sharp enough and very pragmatic enough to make this decision. If you look at it, including Mercedes-Benz and BMW, their German companies are really very pragmatic in this regard, and they have increased R&D in China. What about such a competition, if you really rely on the Chinese market, you treat the Chinese market as not simply a money-making product, you treat it as a research and development in China, and turn China's capabilities into a part of global capabilities, and global capabilities operate locally.

Their strategic thinking and execution are still worth learning from Xi Chinese enterprises. It is my prediction that European and especially German auto companies will be able to experience this change together in China. You see, it is true that Japanese and Korean companies have a much less layout in China, and they may have more layout in the United States, but they may have a much less layout in China, and their depth of thinking and strategic execution in this area are still very different from those of several leading companies in Germany.

Huang Chenxia: In addition to the changes in the global competition pattern in the past two years, the entire domestic auto industry is also undergoing drastic changes. When drastic changes occur, you are also chasing me, and even sometimes it is quite involuted, but if you look at the global competition pattern, what do you think is worth paying attention to when China's auto companies are facing the future competition?

Li Bin: I do have a special note, that is, the healthy competition that you catch up with me can certainly promote the common progress of China's auto industry. But if so, I think there have been some bottomless attacks on each other recently, which may make China's auto industry lose the opportunity of the times.

Huang Chenxia: Will it never be recovered?

Li Bin: None of them make any money, or they all spend a lot of time on these inefficient things.

Huang Chenxia: I remember that there was a meaning in China before, and it also appeared in overseas markets.

Li Bin: China's motorcycle industry has a lot of opportunities, China basically occupied the Vietnamese market, and then overseas, China went overseas anyway to go to the civil war, and then the Chinese company went to do it, and there was no coordination, then this was done, it was completely knocked out, and it was the world of Japanese companies, which is a pity.

In particular, in the process of going overseas, Chinese enterprises must have a coordination mechanism. This is really important. If there is no synergistic mechanism and the common competitiveness of the entire Chinese auto industry, we will really waste the opportunity of such an era.

Huang Chenxia: Usually when you meet your peers or get together in private, do you talk about these topics?

Li Bin: We will also discuss it, but because after all, most of our Chinese companies are still in the first generation, and everyone is full of wolf nature, and they must be outstanding in terms of involution.

I strongly appeal to us to establish a synergistic mechanism for global market access as soon as possible.

My judgment and prediction is that by 2035, five of the world's top 10 auto groups will be Chinese companies.

Huang Chenxia: Let's focus on this when the time comes, and come back to verify it in ten years.

Li Bin: If I lose, I'll give you a box of NIO Life biscuits for every one missing. (laughs)