BERLIN -- Chinese automaker Nio is focusing on the European market and hopes to succeed where rivals have struggled.
Nio founder William Li said the number of Chinese automakers with "a real product" is between 20 and 30. Li said these include companies such as Geely and SAIC, which he says have established electric brands.
"All this competition is good because it moves the industry forward," Li said in an interview with Automotive News Europe sister publication Automobilwoche,
"You have a lot of great automakers in Europe. Even in China, Mercedes, BMW, Audi, and the others are tough competitors. We still have a long way to go to be that strong," Li said.
The automotive industry is currently one of the "most open markets" there is and if Nio can survive in China, it has the chance to be competitive in other markets, he said.