Is the fuel truck era really coming to an end? NiO Li Bin: New energy vehicle penetration will exceed 90% by 2030

On June 26, Li Bin, founder, chairman and CEO of NiO, said at the 2026 NiO Partner Day that in 2030, the penetration rate of pure electric vehicles in China's new car market will exceed 80%. Specifically, the penetration rate of new energy vehicles in China's new vehicle market will exceed 90%, while pure electricity will account for more than 90% of the new energy vehicle market. According to the data of the Association, in May 2026, the penetration rate of China's new energy vehicles in the new vehicle market reached 62.9%, of which pure electricity accounted for 67.1%. Among the four power forms of fuel, extended range, plug-in mixing, and pure electricity, only pure electricity achieved positive growth year-on-year, with retail sales reaching 637,000 units, 7 times the over-extended range. Sales data in May showed that the top 16 in the sales list were all new energy vehicles, of which the top 5 were all pure electric vehicles, and 15 of the top 16 provided pure electric vehicle sales. Looking at the NiO brand, it is currently one of the few brands that does not have a mixed market and only sells pure electric models. NiO delivered 37,705 new vehicles in May, up 62.3% year-on-year and up 28.4% month-on-month. NiO ES8 (parameter | inquiry) continued to maintain sales of more than 10,000 units this year, ranking the champion in sales of large SUVs and models over 400,000 yuan for six consecutive months. The NiO ES9 was delivered to 10,000 units in 30 days, setting a record of 500,000 high-end pure electrics. Li Bin previously said, "Pure electricity is the best in the entire power structure. We only do pure electricity, there is no pit to be repaired. Enterprises doing extended range and plug-in hybrid models may face more adjustment pressure in the current environment. NiO will always be more cautious in estimating market challenges than it actually is. ”