China's auto industry has likely moved past its "golden era," NIO Chief Executive William Li said on Thursday, as a downturn in domestic car sales extended into May.
A rebound in the world’s largest auto market has yet to materialise, despite the sector’s continued export strength, Li told reporters in Beijing.
Li said NIO's focus is on its home market.
"We're focused primarily on China," Li said when asked about overseas expansion. The company began exporting in 2021, starting with Norway, but overseas shipments have remained negligible.
Source : reuters