On September 4, Li Bin, the Chairman and CEO of NIO, remarked in an interview that the automotive industry has now stepped into the most ruthless phase of the marathon's middle to late stages, culminating in the ultimate showdown. This phase is characterized by relentless pressure on industry-wide profits, with both sales and manufacturing profit margins languishing at low levels. According to Li Bin, the cost per vehicle surged by RMB 14,000 in the second quarter compared to the end of the previous year, with cost pressures escalating by a staggering RMB 1.5 billion within a single quarter. While the first quarter still benefited from last year's inventory to cushion the costs, the full brunt of these pressures became evident in the second quarter. It is anticipated that the cost per vehicle will climb by an additional RMB 2,000 to RMB 3,000 in the latter half of the year, culminating in a total increase of RMB 16,000 to RMB 17,000 compared to the end of last year. Among these cost hikes, memory prices have spiked by approximately RMB 10,000, battery prices by RMB 3,000 to RMB 4,000, and the remaining increases are attributed to price surges in bulk materials. Faced with these escalating costs, automakers find themselves with minimal to no leeway for negotiation.