Photographs of Nio Inc NIO CEO William Li checking out the refreshed Tesla Inc TSLA Model 3 at the IAA Mobility show in Munich have been circulating on social media, paving the path for jokes, and concerns for his privacy.
What Happened: In these snapshots, Li appears engrossed in the sleek Model 3, even taking a call on the side. Social media users couldn’t resist cracking a few wisecracks.
“More screens less buttons write that down,” quipped one user.
Another chimed in with, “I’m currently looking at the new Tesla Model 3, and that thing is a beauty! Stop everything you’re doing and go order us a couple ASAP.”
Then there was the speculation that Li was calling an emergency meeting. “Bro is calling his entire staff for an emergency meeting,” joked someone else.
Yet another user guessed him to be saying, “That is not competitor.”
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While some noted that Li doesn’t look too thrilled in the photos, others commended his enthusiasm for gauging the competition.
“No shame in checking out the competition. If you wanna beat the best, gotta know what they are doing,” reasoned a user named RealKP.
Why It Matters: Tesla recently launched the refreshed Model 3 in China, priced at 259,900 yuan (about $35,769), marking a 12% increase over the previous version, with other improvements.
Nio, a notable Tesla competitor in China, is also expanding its presence in European markets, setting the stage for a potential face-off with the EV giant.
Nio offers several vehicles in the same segments as Tesla. Its ET7 is in the same segment as the Model S, while the ES7 competes with the Model Y. The ET5, meanwhile, is considered a competitor to the Model 3.
Li credits Tesla’s efficiency in vehicle production and direct sales but has said that Nio’s user-centric approach is a key differentiator.
Li has previously credited Tesla’s efficiency in vehicle production and direct sales but warned that if Tesla doesn’t enhance its products and services rapidly, it could face challenges in the market.
A few months ago, Li also questioned why Chinese companies faced obstacles in marketing their high-tech vehicles in the U.S., despite Tesla’s favorable reception in China. He dismissed the notion that the success of Chinese startups was solely driven by patriotism, asserting that Chinese consumers, like their global counterparts, prioritize quality.
Li concluded with a warning: foreign brands that can’t keep pace with Chinese innovation may find themselves in a “dangerous situation.”
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Photo courtesy: Nio
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