8 things you need to know about EV startup founder William Li — known as China's version of Elon Musk

The Shanghai-based premium EV company was co-founded in 2014 by its CEO, William Li.

William Li, also known as Bin Li, has been dubbed the "Elon Musk of China" for his push to develop self-driving EVs and his loyal fan base.

 His company's annual "Nio Day" drew crowds of 10,000 Nio owners who came to see the latest vehicle, the ET9, unveiled.
Here are eight things to know about the CEO of Nio:

1. Li grew up on a dairy farm

(Li has co-founded several companies. REUTERS/Yilei Sun)

Born in 1974, Li grew up on a dairy farm in China's agricultural Anhui province, where his village didn't have electricity until he was in high school.

He gained entry to one of China's most prestigious universities, Peking University, to study sociology and law. He launched his first company at the age of 21.

He's since gone on to cofound and invest in 40 companies.

2. He co-founded his first major company in his mid-twenties

Bitauto, a car comparison website, was co-founded by Li in 2000. It was his first major success in the market, and went public on the New York Stock Exchange in 2010.

Li resigned as CEO to turn more of his attention to Nio.

3. His company is pioneering battery-swapping charging technology

(A Nio battery-swapping station.VCG)

Li is distinguishing his company from other EV players like Tesla and BYD with battery-swapping technology.

Instead of users plugging in their cars and waiting to charge, they can swap out the dead battery for a fully charged one at a designated station. The process takes just under five minutes.

To manage costs, customers can buy the car without a battery and then pay a monthly subscription to access the swapping stations.

 It has more than 2,000 stations around China and around 30 in Europe.

4. His latest Nio model can shake off snow like a puppy

(Camouflaged Nio ET9 shaking off snow. Nio)

Nio's new ultra-premium model, the ET9, can independently shake off chunks of snow, clearing the windshield and roof.
Li also demonstrated the vehicle's stability in a video that showed champagne glasses full of liquid balancing on the front of the car while it drove over bumps.

5. Nio cars come with a hefty price tag

(A Nio car parked in front of the NYSE as the company went public.REUTERS)

Nio's premium smart EVs can be more expensive than a Tesla, CNBC reported.
The ET9, which starts shipping in China in 2025, will cost customers $112,000, making it Nio's most expensive car.

6. Li's fans can direct message him anytime they want

(The Nio phone was launched last year and connects with Nios smart EVs.REUTERS/Zoey Zhang)

Nio owners can also directly message Li in the car's app with feedback. This has meant that some senior execs from the company have faced calls from Li in the middle of the night to implement customer suggestions, per the FT.

Ref: 8 things you need to know about EV startup founder William Li — known as China's version of Elon Musk (businessinsider)

 Photo Credit:  REUTERS/Yilei Sun, VCG, Nio, Reuters, REUTERS/Zoey Zhang