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Home / Business / Nine CEO puts their electric cars as "a ticket to a new lifestyle"

Nine CEO puts their electric cars as "a ticket to a new lifestyle"



"If you buy a car, you not only buy a vehicle. You buy a ticket for a new lifestyle."

That's what William Li, CEO of Chinese electric car manufacturer Nio Inc.

NIO, + 6.94%

said in an interview broadcast Sunday in "60 minutes."

Li told CBS correspondent Holly Williams that while his company ̵

1; called by some Tesla in China – sells luxury cars, he thinks about the more of a lifestyle company, with the cars serving as a status symbol for a growing middle and upper class in China.

To this extent, Li has opened a number of so-called Nine Houses in China – exclusive clubhouse for only nine owners. Aside from socializing, members can hold business meetings and take courses in subjects such as flower arrangement and espresso making, "60 minutes" reported.

Electric car sales depart in China and Nio is seen as a potential competitor to Tesla Inc.

TSLA, + 1.19%

. Its cars currently sell for around $ 60,000 in China, about half of what an imported Tesla costs.

In December, Nio announced an electric compact SUV, with the first deliveries in June. At that time, the company said it was scheduled to open around 70 Nine Houses in 2019.

Nine was published on the New York Stock Exchange in September, and its fines have risen almost 24% since, including a 7% gain on Friday as A survey of the report "60 minutes" was released. Searching for the Nios share quote shot up Sunday night at MarketWatch immediately after the "60 minute" report is sent.

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