Weilai CEO Li Bin: Only 4% of trips exceed 100 kilometers, and electric vehicles are absolutely sufficient for daily use

Recently, at the 18th Annual Conference of Chinese Business Leaders, NIO CEO Li Bin expressed his views on electric vehicles, saying that currently only 4% of car owners travel more than 100 kilometers, so electric vehicles are sufficient for daily use.

In addition, regarding the cost of driving, Li Bin said that on average, a fuel car needs to consume 1 yuan of fuel for one kilometer, while an electric car, if charged overnight, can consume 1 yuan per kilometer, which is much more cost-effective than a fuel car.

Although Li Bin frequently promoted electric cars in his speeches and said that NIO is doing well now, according to NIO's Q2 2019 financial report, its net loss was as high as RMB 3.2858 billion, a month-on-month increase of 25.2% and a year-on-year increase of 83.1%. Since NIO started making cars, it has accumulated a loss of nearly RMB 40 billion.

Data from Qichacha shows that after NIO received a RMB 10 billion investment from Yizhuang State Investment on May 28, 2019, it has not received any new financing since then. This is undoubtedly fatal for new energy vehicle companies that need cash flow.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.