Li Bin, Yu Chengdong, and Wang Chuanfu find themselves in a fierce rivalry.

The competition among flagship vehicles naturally highlights each other's shortcomings, but this can be advantageous as it drives improvement and enhancement.

A month before NIO DAY 2024, an online debate erupted: which company excels in manufacturing top-tier luxury flagship models in 2024. The discussion includes JAC Motors and Huawei's Zenith S800, BYD's premium Yangwang U7, and NIO's flagship ET9, each with unique selling points. The Zenith S800, for example, justifies its RMB 1 million price tag with L3 autonomous driving, while Yangwang U7 aims to redefine the million-yuan flagship sedan category with over 1,300 horsepower from its four motors.

Before the launch of NIO ET9, doubts lingered about how Li Bin would fulfill his promise, justify its RMB 800,000 pre-sale price, and ensure sales. However, as NIO DAY 2024 in Guangzhou concluded, these questions began to find answers.

Li Bin's aspirations differ from those of Yu Chengdong and Wang Chuanfu. After a decade in the automotive industry, the idealistic Li Bin has become notably more pragmatic.

Can NIO ET9 emerge as a successful flagship model?

Irrespective of his previous roles, Li Bin's idealism is a defining trait at NIO. He has built a community around sociological principles, with NIO DAY being an event other automakers aspire to replicate. Despite criticism over losses, battery swapping models, and excessive spending, Li Bin humorously remarked, "Recently, our sales have improved, and fewer people are teaching me how to be a CEO."

However, his approach now appears more pragmatic. In the Chinese automotive market, 'pragmatic' is sometimes seen negatively, implying a focus on short-term gains. This includes strategies like price wars or replicating popular models and technologies. In other words, animal instincts often overshadow humanity.

Setting aside the spiritual aspects, let's focus on the pragmatic shifts in Li Bin and NIO ET9, particularly in pricing, technology selection, and accessories.

The regular version of NIO ET9 costs RMB 660,000 with BaaS (Battery as a Service) and RMB 788,000 for the entire vehicle. The launch edition is priced at RMB 690,000 with BaaS and RMB 818,000 for the full vehicle. Given current market perceptions, such pricing may not easily attract a broad consumer base, especially in a challenging global economic environment.

The NIO ES8, priced between RMB 498,000 and RMB 598,000, averaged around 1,000 units sold per month in 2024. The Lixiang MEGA, priced at RMB 529,800, also averaged around 1,000 units sold per month. The Xiangjie S9, priced between RMB 399,800 and RMB 449,800, averaged around 2,000 units sold per month. These models represent the pinnacle of technology from NIO, Lixiang, and Huawei, with Xiangjie showcasing market potential despite competition.

Can NIO ET9 become even more successful? The answer lies in its competitive positioning. The giant screen at NIO DAY 2024 not only enhanced visibility for 20,000 attendees but also showcased a decade of car-making highlights.

This presentation made the starting price of RMB 660,000 seem reasonable. Features like aircraft-style seating, an industry-leading refrigerator, a flat entry due to the absence of a traditional transmission hump, top-tier audio systems, NIO's in-house OS, self-developed chips, and a new 4D millimeter-wave radar perception system, along with enhanced safety and a 900V electrical system, add to its appeal.

Notably, the 900V electrical system boasts the world's highest vehicle voltage, a peak charging power of 600kW, and a current of 765A, setting three global records. Promises made during PowerDay have finally materialized.

"Don't just focus on NIO's battery swapping; our charging capabilities are also strong," Li Bin has stated repeatedly over the past two years.

Another highlight was the demonstration of active chassis and steer-by-wire technology, showcasing enhanced safety features. Audience and social media responses suggest Li Bin made the right choice by focusing on safety.

Combining these factors, despite questions about NIO's business model and market capacity, the company has technically succeeded. Li Bin has struck a balance between pricing and technology, with no direct competitors in this price range, even among traditional fuel vehicles.

Is Xiaomi + NIO the new logic of car-making?

Now, let's delve into the philosophy behind car-making. Unlike some automakers, NIO's press conferences rarely involve putting down others to elevate themselves.

NIO's presence at the press conference was relatively subdued, avoiding bombastic claims. This reserved approach fosters a calmer perspective among audiences.

In understanding NIO ET9, it's more fitting to compare it with the Porsche Panamera than the Mercedes-Benz S-Class Maybach. This relates to the topic of driving versus being driven. The Zenith S800, for example, faced discussions about the awkwardness of driving a 5.3-meter-long car.

Due to size and other factors, vehicles have physical limitations. In Chinese social norms, the perception of being a chauffeur is a persistent issue. The Lixiang MEGA, being family-oriented, addresses this to some extent but lacks in styling and market strategy. In contrast, NIO ET9 avoids this embarrassment, marking another successful maneuver by Li Bin.

However, there's more to this vehicle.

From a sociological perspective, humans combine animalistic and humanistic traits. Cars increasingly resemble smartphones, embodying animalistic instincts as the internal combustion engine era gives way to new energy sources. Consequently, humanistic concerns are sidelined, with car launches becoming mere comparisons of specifications and numbers.

Behind these differences lie varying worldviews, perceptions, and natural choices.

Fortunately, Li Bin does not follow smartphone trends in car-making. Some aspects of the press conference may seem silly to outsiders but are appreciated by certain groups.

Visually, NIO ET9's cabin doesn't seem revolutionary, with slightly enhanced screen quality and a non-conventional steering wheel shape. However, Li Bin spoke enthusiastically about it, captivating the audience with themes based on seasons and time changes, addressing spiritual needs beyond basic survival.

For another example, Li Bin discussed the touch sensation of NIO ET9 seats. While not novel, he emphasized enhancing the first touch sensation through different methods and combinations, another perceptual topic.

Spending 3-5 minutes on car audio at a launch event would typically be criticized. However, Li Bin did it, emphasizing the ride experience inside the car for over 10 minutes. The four-seat version of NIO ET9 emphasizes the sense of boundaries within the car, allowing individuals to coexist harmoniously.

The core difference between telling a story and making up a story lies in their starting points. Without the intention of competing to death, NIO ET9's perception is independent. Li Bin has likely considered why luxury brands like Rolls-Royce, Bentley, and Porsche 911 maintain their flagship status, providing emotional value to a core demographic rather than just the best specifications.

Final Thoughts

In reality, there's no direct competition between the Zenith S800, U7, and NIO ET9. This is not due to price differences but because each car is tailored for its fan base, showcasing technological prowess.

The world is vast, and no single strategy can dominate everything. The extreme cost-effective model dominates the Chinese market but not globally. Whether the smartphone model will continue to dominate remains to be seen. Different groups have different preferences, evidenced by the high sales of models like the Sylphy and Lavida. For flagship and high-end cars, it's refreshing to see a focus beyond specifications and data, as sustainability is key in the long run.