NIO CEO Declares End of China’s Auto “Golden Era” as Fierce Competition and Market Saturation Reshape the EV Industry

NIO CEO William Li said China’s auto market is now saturated after years of rapid EV growth, with weaker domestic sales and slower EV demand.

He said intense competition and price wars are squeezing automakers as the industry shifts from rapid expansion to a mature, price-driven market.

NIO plans to keep its focus on China while increasing spending on smart-driving computing, ADAS, software, and battery-swapping tech.

The company is leaning on new premium models like the ES9 SUV to differentiate itself, and its Hong Kong-listed shares rose after the comments.