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Recently, when participating in the CCTV "Dialogue" program, Li Bin, CEO of Xilai Automobile, refuted the rumors that recently circulated on the Internet about gambling between NIO and Hefei, saying: it is true that the industrial guidance funds of Anhui and Hefei have invested in Lulai in 2020, which is very important to Yulai. But NIO also bought back some of its shares in 2020 and 2021, so there is no problem of losing the bet. In addition, it also said that Hefei uses return funds to continue to support the development of the new energy vehicle industry chain, and has set up a fund to support the development of new energy vehicles, and many enterprises have already settled in Hefei through the investment of this fund. therefore, Anhui and Hefei are very comprehensive and long-term in terms of promoting industrial development through funds, and they are not gambling as everyone wrote.

According to data, NIO was founded on November 25, 2014, initiated by Li Bin, founder of the barter car. On December 16, 2017, the ES8, the first production car of Xilai, was officially launched. In September 2018, Ulai was listed on the New York Stock Exchange in the United States. On December 15, 2018, the second production car, ES6, was officially put on the market. NIO lost tens of billions of dollars in 2019 and is facing life and death. Under the influence of huge losses, spontaneous combustion recalls, layoffs and executive departures, the share price of Xilai plummeted, when the lowest share price was only $1.19 per share, close to the Nasdaq delisting red line of $1. In order to survive, NIO successively discussed financing with Beijing Yizhuang Guotou and the government of Wuxing District, Huzhou, Zhejiang, but all ended in failure.

Under the background that the market was not optimistic about NIO, Hefei extended a helping hand to NIO. On April 29, 2020, NIO reached a strategic cooperation with Hefei state assets. Hefei state assets invested 7 billion yuan in China and 4.26 billion yuan in NIO, which held 24.1% and 75.9% shares in China, respectively. Of course, Hefei is not an unconditional investment. According to media reports, Hefei and NIO signed an agreement requiring NIO to submit IPO within 48 months after receiving the investment and to complete the listing within 60 months; besides IPO, the performance commitments to be completed are: revenue of 14.8 billion yuan in 2020 (3 models on the market), revenue of 120 billion yuan in 2024 (6-8 models on the market), total revenue of 420 billion yuan and total tax revenue of 7.8 billion yuan from 2020 to 2025.

With the financial support of the Hefei municipal government, the financial problem of NIO has been alleviated. According to relevant data, Lulai Motor lost 2.573 billion yuan, 5.021 billion yuan, 9.638 billion yuan and 11.296 billion yuan respectively from 2016 to 2019, with a cumulative loss of 28.5 billion yuan over the past four years. In 2020, the first half of the year under the influence of the epidemic continues to show a depressed state. After the second half of 2020, after the investment of Hefei municipal government, the share price of Lulai once soared. Li Bin said: "Hefei let NIO out of ICU, not only gave us funds, more importantly, gave us confidence", and Hefei also made a lot of money from the rise of NIO Motor, winning the title of "the best venture capital institution".

After the arrival of investment in Hefei, Lulai Motor has also accelerated in terms of products and financing. In terms of products, there are six models in total, including ES8, ES6, ES6, ET7, ET5 and ES7, which have been listed and planned to be released by Ulai. However, although Xilai Automobile is the car company with the most product planning among the new car-building companies, its sales data are not the most. According to relevant data, a total of 12961 new cars were delivered in June and 50827 from January to June. Xiaopeng delivered a total of 68983 new cars from January to June, while ideal cars delivered 60403 new cars from January to June. In addition, from the first quarter results released by NIO, the situation of NIO is not optimistic. According to the financial report, the operating loss of NIO in the first quarter was 2.189 billion yuan, an increase of 639.7 percent over the same period last year, and a net loss of 1.783 billion yuan, an increase of 295.3 percent over the same period last year. The gross profit margin of Lulai vehicle sales in the first quarter was 18.1 percent, and the overall gross profit margin was 14.6 percent.

On the longer-term new car planning, Li Bin has said that the planned new brand models will start delivery in the second half of 2024, and the price of the main products will be in the range of 20-300000 yuan. The model will be equipped with third-generation NT3.0 technology, power exchange architecture, and equipped with self-made battery packs. For the time being, all the models under NIO are positioned as high-end models, and the price of the products is not less than 350000 yuan. The launch of a new 200000 model with a lower positioning can complement the existing product system of NIO. This may also help NIO to further increase the scale of sales and seize more market share.

According to media reports that Hefei and NIO signed an agreement, although Xilai has successfully completed the requirements of revenue and launch of three new cars in 2020, it is still a bit close to reaching 120 billion in 2024. According to the latest financial report released by NIO, revenue of 9.911 billion yuan was achieved in the first quarter of 2022. According to this growth rate, there is still a big gap to achieve the revenue performance target of 120 billion within two years. In addition, it is also difficult to successfully land on the Kechuang board in 2025. After all, Science and Technology Innovation Board's listing conditions require that the enterprise's net profit be positive for two consecutive years, and the two-year net profit can not be less than 100 million yuan. Or the net profit in the most recent year is not less than 100 million yuan. According to the current situation of NIO Motor, it is still at a loss stage, and it is indeed difficult to list in Science and Technology Innovation Board as scheduled in 2025.

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