On August 22, at the 2026 Fudan School of Management Science and Innovation Forum for China’s Chief Economists, Li Bin, the founder, chairman, and CEO of NIO, remarked that this year marks a pivotal moment for new energy vehicles, characterized by fierce competition across the board. China’s auto industry is now entering four distinct new phases: the most ruthless climax phase, the phase of rapid acceleration in pure electric vehicle adoption, the phase where brands transition from disorder to clear differentiation, and the phase of shifting from isolated competitive battles to comprehensive, system-wide rivalry. He emphasized that the next two years will be a make-or-break period, determining which automakers can stay competitive and thrive.