NIO has made preparations to enter the global markets, but this year is certainly not the right time, Li Bin, the Chinese electric vehicle (EV) maker's founder, chairman, and CEO, said in the company's earnings call following the release of its second-quarter financial results today.
He said that NIO has been global since its inception. Last year when NIO was at its worst time, it was able to keep its offices in Germany, the UK, and Silicon Valley open, and this year the Covid-19 outbreak has not affected its global operations.
In fact, it is true that very detailed pre-study and preparation of overseas markets has been carried out, including product preparation, including team preparation, including detailed plans for market entry, he said.
This year is certainly not the right time for it for reasons that are known to all, but we are preparing for these things, he said.
"There are also a lot of media outside of China that are very interested in our product. In fact, we recently saw that some very well-known automotive media in Europe, including some in the US, after testing our cars, I would say they gave a very high evaluation," Li Bin said.
NIO is building up its global market expansion capability step by step, and it is true that the situation around the world is not so normal this year, but the preparatory work should definitely be carried out very well, he said.