Nio, which is the Chinese electric automaker, which many people look at and say, look this is the company that's going to challenge Tesla in China.

Nio，這是中國的電動汽車製造商，很多人看了之後說，你看這是要在中國挑戰特斯拉的公司。

Since its initial public offering on the New York Stock Exchange, in September 2018,

自2018年9月在紐約證券交易所首次公開發行以來，。

the company's stock has risen from a 52-week low of $2.11 to peak at $57.20 in 2020.

該公司股價從52周低點2.11美元上漲到2020年的峰值57.20美元。

That's an increase of more than 2,700%. But this automaker has had its fair share of challenges,

這是一個超過2700%的增長。 但這家汽車製造商也遇到了不少挑戰。

including being caught in the middle of U.S.-China trade tensions and dealing with the economic effects of Covid-19.

包括被夾在中美貿易緊張局勢中，以及應對科維德-19的經濟影響。

So, how did Nio, which was at one point on the brink of bankruptcy,

那麼，一度瀕臨破產的尼奧是如何。

rise from the ashes to become a major player in the electric vehicle industry?

從灰燼中崛起，成為電動車行業的主要參與者？

In 2015, China's premier Li Keqiang announced a 'Made in China 2025' plan

2015年，中國總理李克強宣佈了 "中國製造2025 "計劃。

to transform the country from a manufacturing hub of cheap, low-value goods,

將國家從一個廉價、低價值商品的製造中心轉變為。

to one that produced high-tech products in ten areas – one of which was the electric vehicle market.

到一個在十個領域生產高科技產品的公司--其中之一就是電動車市場。

To that end, the government offered subsidies to startups.

為此，政府為初創企業提供補貼。

This created a fertile ground for 45-year-old entrepreneur,

這為45歲的企業家創造了一片沃土。

William Li to grow his startup, Nio, which he founded at the end of 2014.

李威廉為了發展他在2014年底創立的創業公司Nio。

Nio secured early investments from tech giants, including Tencent and Baidu, and in 2016 released its first model, the EP9.

Nio獲得了包括騰訊、百度在內的科技巨頭的早期投資，並在2016年發佈了首款機型EP9。

It was a flashy race car with a top speed of 194 mph, and a price tag of $1.5 million.

這是一輛華而不實的賽車，最高時速為194英里/小時，價格為150萬美元。

This model raised the profile of the Shanghai-based automaker

這款車型提升了上海汽車製造商的形象。

on the electric vehicle map and among China's wealthy circles.

在電動車地圖上和中國富豪圈中。

Four years after it was formed, the company beat its domestic rivals

公司成立4年後，擊敗國內競爭對手。

Li Auto and Xpeng to become the first to file an international IPO.

利亞汽車和旭鵬將成為第一個申報國際IPO的公司。

So unlike Tesla with its Gigafactories, Nio actually doesn't make its own cars,

所以與特斯拉的Gigafactories不同，尼奧其實並不是自己生產汽車。

Instead, it outsources manufacturing to a state-owned automaker in Hefei, the capital of Anhui province.

相反，它將生產外包給安徽省會合肥的一家國有汽車製造商。

And the differences don't end there.

而分歧還不止於此。

Instead of relying on a charging network like Tesla, Nio decided to adopt a different approach to its batteries,

Nio沒有像特斯拉那樣依賴充電網絡，而是決定採用不同的方式來處理電池。

a service that many experts have called Nio's competitive advantage.

服務，很多專家稱之為尼奧的競爭優勢。

Through a network of battery swapping stations, Nio users can exchange their battery

通過電池交換站網絡，Nio用戶可以交換他們的電池。

for a fully charged one in three minutes, eliminating the wait time, which can be as long as 24 hours for big cars.

為3分鐘內充滿電的，省去了大車長達24小時的等待時間。

As of June 2020, the automaker has established 135 power swapping stations in 59 cities in China.

截至2020年6月，汽車廠商已在中國59個城市建立了135座換電站。

The Chinese government plans to standardize battery swapping stations in the country, ensuring that all EV owners

中國政府計劃在全國範圍內實現電池更換站的標準化，確保所有電動車車主

can use common batteries at any facility, regardless of their car brand.

可以在任何設施使用普通電池，無論其汽車品牌。

This means that a Nio owner will eventually be able to swap batteries at a rival's battery swapping station.

這意味著，Nio的車主最終將可以在競爭對手的電池交換站交換電池。

This has allowed manufacturers to sell EVs without a battery, effectively making the purchase much cheaper,

這使得製造商可以在沒有電池的情況下銷售電動車，有效地使購買成本大大降低。

while also giving EV owners the option to upgrade to a larger capacity battery in the future.

同時也讓電動車主在未來可以選擇升級到更大容量的電池。

In August, Nio unveiled a battery subscription service that allows EV users to choose battery packs of various capacities and pay monthly.

8月，Nio推出了電池訂閱服務，電動車用戶可以選擇不同容量的電池組，按月付費。

While these services gave Nio a loyal following, the company hasn't been immune to the headwinds within the wider auto industry.

雖然這些服務給Nio帶來了忠實的追隨者，但該公司也未能倖免於更廣泛的汽車行業內的逆風。

As the global economy slowed in 2018, trade tensions between the United States and China were brewing.

隨著2018年全球經濟放緩，中美之間的貿易緊張局勢正在醞釀。

Domestically, the Chinese government reduced tax breaks for car owners, weakening demand in the largest automobile market in the world.

在國內，中國政府減少了對車主的稅收優惠，削弱了全球最大汽車市場的需求。

These factors led to a 3% global decline in car sales and production fell by 2.4% in 2018.

這些因素導致2018年全球汽車銷量下降3%，產量下降2.4%。

Faced with mounting debt, management departures and negative gross margins, Nio was struggling.

面對不斷增加的債務、管理層的離職和負毛利，尼奧舉步維艱。

As the electric car startup expanded, so too did its costs.

隨著電動汽車創業公司的擴張，其成本也在不斷增加。

In the third quarter of 2019, some $280 million was spent on marketing and flashy showrooms,

在2019年第三季度，約有2.8億美元用於營銷和華麗的展廳。

25% more than the year before, outpacing its revenue growth of 20%.

比上年增加25%，超過其20%的收入增長。

To reduce cash burn and stay lean, the company embarked on a cost-cutting campaign, slashing around 2,000 jobs between January and September.

為了減少現金消耗和保持精簡，公司開始了成本削減活動，在1月至9月期間削減了約2000個崗位。

Just one year after its trading debut at $6.26, the perfect storm tanked the company's stock to below $2 at the end of September 2019.

在其交易首發價6.26美元后僅一年，2019年9月底，完美風暴就將該公司的股價打到了2美元以下。

The cash-strapped company couldn't pay its workers on time at the start of 2020. But then the tide began to turn.

在2020年開始的時候，這家資金緊張的公司無法按時支付工人的工資。但隨後，情況開始發生變化。

Help came in the form of a $1 billion lifeline from the local government of Hefei,

幫助的形式是合肥當地政府提供的10億生命線。

in return for expanding its existing operations, including the creation of a new headquarters in eastern China.

作為擴大現有業務的回報，包括在中國東部建立新的總部。

As China's economy rebounded after the first wave of the Covid-19 pandemic, so too did Nio.

隨著中國經濟在第一波科維德-19疫情後的回暖，尼奧也。

In March 2020, the Chinese government announced that it would extend its subsidies,

2020年3月，中國政府宣佈將延長補貼期限。

and a tax break for new energy vehicles which include pure electric and hybrid cars — to 2022.

以及對新能源汽車的稅收優惠，其中包括純電動汽車和混合動力汽車--到2022年。

This has led to a bumper year for EV manufacturers in China, with 1.1 million electric vehicles sold in the first 11 months of 2020, up 3.9 percent from 2019.

這使得中國的電動車廠商迎來了豐收年，2020年前11個月，中國電動車銷量達到110萬輛，比2019年增長3.9%。

Nio delivered over 35,000 vehicles in the same period, more than twice as many as the year before.

同期尼奧交付車輛超過3.5萬輛，是上年的兩倍多。

But the company got a boost from an unlikely source.

但該公司得到了一個不太可能的來源的推動。

Thanks to the world's most valuable automaker, Tesla, Nio's fortunes were turning around.

得益於世界上最有價值的汽車製造商特斯拉，尼奧的命運正在轉折。

In 2020, Tesla's stock price had jumped nearly sevenfold.

2020年，特斯拉的股價已經大漲了近7倍。

The surge encouraged investors to look for opportunities in other electric automakers.

漲勢鼓勵投資者在其他電動汽車製造商中尋找機會。

Some concluded that Nio was the next best competitor.

有人得出結論，尼奧是下一個最好的競爭對手。

As the company's stock price soared in 2020, Nio became the fourth most valuable automaker in the world,

隨著公司股價在2020年的飆升，尼奧成為全球第四大汽車製造商。

surpassing General Motors and Daimler by market capitalization at the start of December.

12月初，市值超過了通用汽車和戴姆勒。

Sales of electric vehicles are expected to increase from 2.5 million in 2020 to 11.2 million by 2025, before nearly tripling to hit 31.1 million by 2030.

預計電動汽車的銷量將從2020年的250萬輛增加到2025年的1120萬輛，然後到2030年增加近兩倍，達到3110萬輛。

By 2030, Chinese manufacturers are expected to command 49% of the total global EV market,

預計到2030年，中國製造商將佔據全球電動車市場總量的49%。

while European firms will make up 27% and the American companies, 14%.

而歐洲企業將佔27%，美國企業佔14%。

It is no wonder then that Nio has Europe in its sights, followed by other global markets in 2023,

這就難怪尼奧將歐洲放在眼裡，其次是2023年的全球其他市場。

But it still has a long way to go before it can compete effectively with the industry's front runner, Tesla.

但要想與行業前輩特斯拉進行有效競爭，它還有很長的路要走。

The success of these ventures will depend on Nio's ability to control its spiraling costs,

這些企業的成功將取決於Nio控制其螺旋式上升的成本的能力。

appeal to foreign buyers and expand its battery swapping network overseas.

吸引國外買家，並擴大其海外電池交換網絡。

Thank you so much for watching our video. Would you guys buy an electric car? Let us know in the comments below.

非常感謝您觀看我們的視頻。你們會買電動車嗎？請在下面的評論中告訴我們。