NIO Inc. founder, chairman and CEO William Li said the smart electric vehicle competition has entered what he described as the "finals stage," emphasizing that survival and steady development will be crucial as the industry's true equilibrium may not emerge for another 10 years.

Speaking at the Guangzhou Auto Show on Thursday, Li acknowledged that NIO has been fortunate to remain in the competitive race. He noted that the company's past investments in research and development, as well as infrastructure, are now beginning to show results.

The executive said NIO has consistently focused on core underlying technologies and full-stack capabilities in smart electric vehicles, including improvements to its battery charging and swapping infrastructure to enhance user experience.

"Over the past few years, there has been significant room for improvement in our execution efficiency, operational efficiency, and work prioritization, but the overall direction has been correct," Li said. He added that since the second half of last year, the company has been refining its organizational capabilities and implementing company-wide operational reforms, which are gradually producing results.

Li highlighted a recent shift in corporate culture toward cost discipline, noting that even small savings are now carefully considered. He cited an example of rescheduling his own travel to avoid paying overtime costs at multiple venues, saving RMB 30,000 (US$4,100) – a level of cost consciousness he described as previously "unimaginable" at NIO.

The industry faces intensifying competition as both traditional private automakers and state-owned enterprises accelerate their electrification strategies. Li stressed that the key to success lies in persistence, maintaining steady development, and simply surviving the prolonged competitive period ahead.

"This competition has no end in sight," Li said, adding that achieving operational efficiency on every expenditure has become an ingrained company-wide initiative.