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William Li

William Li (Chinese: 李斌; pinyin: Lǐ Bīn; born August 1974) is a Chinese entrepreneur, investor, and business executive, best known as the co-founder, chairman, and chief executive officer (CEO) of NIO Inc., a prominent manufacturer of electric vehicles (EVs) and related technologies based in China. Born on a dairy farm in Anhui province, China, Li grew up in modest circumstances and demonstrated early entrepreneurial drive. He earned a bachelor's degree in sociology from Peking University, where he minored in law and began his first business venture as a student. Li is a serial entrepreneur who has co-founded or invested in over 40 companies across the , automotive, and sectors. His early ventures include founding Antarctic Technology Development Co., Ltd. in 1996—one of China's first companies—while still in , and co-founding Bitauto Holdings Limited in 2000, an online automotive platform that went public on the in 2010, raising approximately $108 million with a of about $445 million; he served as its CEO and chairman until stepping down in 2013, after which he reduced his involvement while retaining a stake. In November 2014, Li founded (initially known as NextEV) to advance sustainable mobility through premium EVs, autonomous driving, and battery-swapping infrastructure. Under his leadership, NIO debuted its first , the EP9, in 2016 and achieved a landmark on the NYSE in September 2018, raising US$1 billion. The company has since expanded globally, with monthly deliveries surpassing 31,000 vehicles as of August 2025, and continuing to innovate in the competitive EV market through new brands like ONVO and . Li's contributions to China's landscape have earned him notable recognition, including being named one of the "Top 10 Economic Personages of 2017" by Sina Finance, , and CCTV's Channel Wu, as well as Magazine's Entrepreneur of the Year in 2017. He also serves as a managing partner at Capital, focusing on investments in new energy and intelligent mobility. As of 2025, under Li's leadership, has delivered over 600,000 vehicles cumulatively and is targeting profitability by the end of the year.

Early life and education

Early life

William Li was born in August 1974 in a remote mountain village in Province, , where he grew up on a dairy farm amid conditions of significant and . His village lacked until he reached high school, limiting access to modern amenities and , which instilled in him a strong sense of self-reliance and determination to transcend his rural circumstances. Li's family exemplified and sacrifice, with his parents beginning to save for his when he was just seven years old, despite their modest means. He spent much of his living with his grandparents in the mountains, where he helped herd cattle and contributed to household labors. His grandfather ran a trading cattle, liquor, and tobacco—sourcing goods from neighboring Province during off-seasons—which exposed Li to basic entrepreneurial principles, including and from a young age. These formative experiences in rural Taihu County, Anqing City, shaped Li's ambitions, fueling his resolve to pursue higher education as a pathway out of ; he later attended .

Education

William Li attended from 1992 to 1996, where he pursued higher education motivated by his rural upbringing in Province. He earned a in with a minor in . During his years, Li exhibited early entrepreneurial inclinations by co-founding Beijing Antarctic Technology Development Co., Ltd., one of China's pioneering ventures focused on providing online services to businesses.

Business career

Pre-Nio ventures

Before founding , William Li built a foundation in the and automotive sectors through several early entrepreneurial efforts. At age 21, while studying at , he co-founded Beijing Antarctic Technology Development Co., Ltd. in 1996, one of China's earliest companies providing services to businesses. This venture provided initial experience in technology startups during the nascent stages of China's . In 2000, at age 26, Li founded Bitauto Holdings Ltd., an online platform offering automotive content, services, and solutions tailored to China's burgeoning car market. As CEO and chairman from 2000 to 2013, Li led the company's expansion into a leading provider of services for the , including dealer tools and consumer information portals. Under his leadership, Bitauto grew significantly, achieving a public listing on the in 2010 and establishing itself as a key player in China's auto sector, which was fueled by rising vehicle ownership. Li's tenure at Bitauto ended in 2013 when he sold his stake, a transaction that generated substantial personal wealth and marked a critical financial turning point, enabling further investments in . Between 2000 and 2014, Li was involved in over 40 co-foundings and investments in tech and mobility startups, including roles as co-founder and early investor in , a bike-sharing service, which honed his expertise in scalable digital platforms and urban mobility solutions.

Founding and leadership of Nio Inc.

William Li co-founded in November 2014 in , establishing it as an (EV) company dedicated to developing premium smart EVs. The company's drew on Li's prior entrepreneurial experience, including his success with Bitauto Holdings, which provided initial capital and automotive industry expertise for 's launch. From the outset, Li articulated a vision for that extended beyond traditional automaking, emphasizing a strong user community, innovative technology to address , and a premium ownership experience to foster loyalty. He positioned as a "mobility lifestyle brand," aiming to create shared joy among users through intelligent EVs and community-driven initiatives, with the goal of redefining the car-user relationship. Li has served as chairman of the board since 's and assumed the role of in March 2018. Under Li's leadership, Nio achieved several key early milestones that validated its strategy. The company developed and launched its first model, the EP9 electric supercar, in November 2016, showcasing advanced performance capabilities with a top speed exceeding 300 km/h. This was followed by the unveiling of the ES8 premium SUV in April 2017, which opened for pre-orders and marked Nio's entry into the mass-market premium EV segment. Nio culminated its pre-public phase with an on the in September 2018, raising $1 billion to support further development. To fuel these efforts, Nio secured over $2.4 billion in pre-IPO strategic investments across multiple rounds, including significant backing from tech giants Tencent and Baidu, which enabled rapid prototyping and infrastructure buildout.

Expansion and challenges at Nio

Following Nio's initial public offering in September 2018, the company under William Li's leadership accelerated its product development and market expansion. In December 2018, Nio launched the ES6, a five-seater premium electric SUV designed to broaden its appeal beyond the flagship ES8 model. The ET7 sedan followed in early 2022, marking Nio's entry into the executive sedan segment with advanced autonomous driving capabilities. Internationally, Nio entered Europe with its first market in Norway in 2021, establishing showrooms and planning battery swap infrastructure to connect major cities by the end of 2022. By mid-2025, Nio had deployed over 3,400 battery swap stations in China alone, with an additional 61 in Europe, supporting its ecosystem for seamless charging alternatives. To capture the mass-market segment, introduced a multi-brand strategy in 2024 with the launch of Onvo as a sub-brand targeting affordable family vehicles, starting with the L60 that achieved over 10,000 deliveries in its third month on the market. In 2025, unveiled , a new sub-brand focused on urban mobility and smart connected EVs, with its debut model beginning orders in in November and planned for European rollout later that year; right-hand drive production commenced on November 17, 2025, for initial markets including . Under this strategy, announced plans to launch nine new or refreshed models across its three brands in 2025, including the ET9 sedan, additional Onvo SUVs, and vehicles, aiming to diversify its portfolio amid intensifying competition. In 2016, Li established NIO Capital, a venture capital firm sponsored by NIO Inc., dedicated to investing in new energy, intelligent mobility, and deep technology sectors such as batteries, autonomous driving, and frontier tech. The firm has since managed multiple funds, supporting innovations in sustainable transportation and related ecosystems. Nio faced significant financial hurdles during this expansion phase, including near-bankruptcy in late 2019 amid executive departures, vehicle recalls, and subsidy reductions, which strained cash flows and led to substantial losses. The company continued to report quarterly losses through 2025, exacerbated by fierce rivalry from Tesla's premium EVs and BYD's cost-competitive mass-market offerings, prompting Nio to invest heavily in R&D—previously exceeding 3 billion yuan per quarter—while seeking cost efficiencies. In response, Li directed efforts to achieve profitability by the fourth quarter of 2025, capping non-GAAP R&D spending at around 2 billion yuan and SG&A expenses below 10% of revenue for that period, with the company expressing continued confidence in meeting this goal as of mid-November 2025. Recent milestones highlighted Nio's momentum, with the company recording its highest-ever monthly deliveries of 40,397 vehicles in October 2025 across all brands, a 92.6% year-over-year increase driven by strong demand for Onvo and models. At NIO Day 2025 held in on September 20, Li described the year as a "technological harvest," unveiling advancements in and smart driving while emphasizing with users under the theme "Grow with the Light." In early November 2025, Li visited to explore partnerships for further expansion into markets like , , and in 2025-2026. Strategically, doubled down on its battery swap ecosystem as a , seeking European partners in 2025 to share costs and alleviate financial pressures from the network's expansion. However, faced criticism from industry analysts for prioritizing brand "atmosphere" and user experience events over sufficient R&D focus, which some argued contributed to ongoing profitability delays.

Personal life and philanthropy

Family and lifestyle

William Li maintains a low profile regarding his life, prioritizing amid his high-profile career. He is married to Wang Yizhi, whom he has occasionally accompanied at public events, such as award ceremonies. There is no confirmed public information about children, underscoring his deliberate separation of personal matters from professional exposure. Despite amassing a exceeding billions as Nio's CEO, Li resides in a modest rented in , measuring about 50 square meters and costing approximately 10,000 ($1,556) per month—a space he describes as "small but expensive." This choice exemplifies his frugal habits, which trace back to his rural upbringing in province where resources were scarce. Li's eschews extravagance, favoring practicality over opulence even as his success affords greater luxuries. Li's approach to work-life balance is intensely hands-on, often immersing himself in Nio's operations to the point of direct personal interaction with customers. He frequently participates in group chats with owners, solicits feedback in real-time, and attends community events like user galas, fostering a sense of closeness that extends into his daily routine. This engagement has earned him the moniker "China's " for his relentless, visionary dedication to the company. Central to Li's personal philosophy is a commitment to nurturing a vibrant user over immediate personal indulgences, viewing long-term societal impact through sustainable as paramount to his fulfillment. He emphasizes enduring relationships and shared experiences with enthusiasts, reflecting a values-driven life that prioritizes collective progress.

Philanthropic activities

William Li's philanthropic efforts are primarily channeled through the NIO User Trust, a nonprofit entity he personally funded by transferring 50 million ordinary shares of in 2019 to support charitable causes. The trust facilitates community-driven , including matching user donations for relief; for instance, in July 2025, it collaborated with to donate RMB 2 million (approximately $278,600) to aid flood victims in northern through the China Charity Federation. This structure reflects Li's vision of user-led giving, with the trust approving projects based on community input and contributing equivalent funds. In education and rural development, Li's initiatives via NIO emphasize access to technology and environmental learning in underserved areas, drawing from his own rural upbringing without electricity. The Clean Parks program, launched in 2021, partners with the World Wildlife Fund (WWF) to establish flagship education centers focused on biodiversity conservation, providing tech-enabled learning tools in remote national parks and rural reserves like Sanjiangyuan. In April 2025, NIO and WWF renewed their strategic partnership for another three years to further advance the initiative. Additionally, collaborations with the United Nations Development Programme (UNDP) deploy electric vehicles and clean energy infrastructure to enhance ecological protection and tech access in protected rural zones, promoting sustainable development. These efforts indirectly support scholarships and training through NIO's community programs, prioritizing underserved regions. On environmental fronts, Li advocates for green mobility to combat , as highlighted in his 2023 speech addressing the climate emergency and NIO's role in innovation. NIO's push, including RMB 100 million invested over three years in clean energy for parks, accelerates adoption to cut emissions. While Li maintains limited personal without a dedicated foundation, his investments through NIO Capital in clean energy startups, such as a 2023 stake in a nuclear fusion firm, advance social tech for . As of 2025, efforts focus on global accessibility, including rural promotion campaigns in to broaden clean transport reach.

Awards and recognition

Business awards

William Li received early recognition for his contributions to China's automotive internet sector through Bitauto Holdings, which he co-founded in 2000. In 2008, he was honored by the China Automobile Dealers Association as one of the top 10 most influential figures in the country's automobile industry over the previous three decades, acknowledging his role in pioneering online automotive services and platforms. Following the success of Bitauto, which went public on the in 2010 and saw Li step down as CEO in 2013 after a period of significant growth, his entrepreneurial profile rose through inclusions on prominent wealth rankings. These listings highlighted his achievements in serial entrepreneurship, including investments and founding of multiple ventures prior to . His transition to Nio further amplified his standing in business circles. In 2017, Li was named Entrepreneur of the Year by Magazine, recognizing his broader impact as a serial founder in China's tech ecosystem. That same year, he was listed among the Top 10 Economic Personages by Sina Finance, , and Channel Wu, underscoring his influence in digital innovation beyond electric vehicles. Li's net worth milestones gained international attention starting in 2018, when he debuted on the Billionaires List following Nio's IPO, with his stake valued at approximately $981 million at the time.

Industry honors

In 2024, William Li was named Person of the Year in the TopGear.com Electric Awards for his in premium innovation and contributions to revolutionizing the Chinese market through NIO's technological advancements. Under Li's leadership, NIO's full-domain operating system received the Global New Energy Vehicle Innovation Technology award at the World New Energy Vehicle Congress (WNEVC) in 2025, recognizing advancements in smart development as part of the company's multi-brand strategy and battery swap infrastructure. Li has been dubbed the "Mobility Godfather" in for his foundational role in the and mobility sectors. Post-2020, he has been profiled internationally as a key innovator in smart electric vehicles, particularly for 's recovery and expansion efforts. In 2025, achieved a monthly delivery record of 34,749 vehicles in amid ongoing market expansion.

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