Swap the Battery, Not the Car
He built a car website that went public. Then he started a car company. It almost died. He saved it.
Charging an electric car can take a long time.
William Li had another idea. What if a robot simply swapped your empty battery for a full one in a few minutes?
That idea is at the heart of NIO, the Chinese electric car company he founded in 2014.
From Anhui to Peking University
William Li, whose Chinese name is Li Bin, was born in 1974 in Anhui province, China.
He studied sociology at Peking University, one of China's top schools. While still a student, he started getting involved in internet businesses.
Bitauto
In 2000, William co-founded Bitauto, a website that helped people research and buy cars in China. China's car market was booming, and Bitauto grew with it.
In 2010, Bitauto listed on the New York Stock Exchange. William also became an early investor in other companies, including the bike sharing app Mobike.
Starting NIO
In November 2014, William founded NIO. He wanted to build premium electric cars that could compete with the best in the world.
In 2016, NIO revealed the EP9 supercar, which set lap records. In 2017, it launched its first mass market SUV, the ES8.
In September 2018, NIO went public on the New York Stock Exchange.
Near collapse
In 2019, NIO nearly ran out of money. It faced recalls and huge losses, and its stock crashed. Many people expected it to fail.
In 2020, NIO received major investment backed by the city of Hefei and moved key operations there. Sales recovered.
Swaps and clubhouses
NIO built thousands of battery swap stations, mainly in China, and expanded to Europe.
It also created NIO Houses, stylish lounges where owners can work, relax and meet. William wanted NIO to feel like a community, not just a car brand.
NIO later added more affordable brands, ONVO and Firefly.
Where he is now
Today, William Li is founder, chairman and CEO of NIO. In September 2026, he said NIO would focus on its core premium business for the next three years, with new models planned for 2027.
Why the story matters
William Li's story shows how deeply knowing an industry can help you reinvent it. He spent years helping people buy cars before he built his own.
It also shows survival. NIO came close to failing and fought its way back.
For young builders, the lesson is simple. Solve the pain everyone accepts, like slow charging. And when things fall apart, fight for a second chance.
He did not ask drivers to wait. He swapped the wait away.
The Record
Born: 1974
From: Anhui province, China
Studied: Sociology, Peking University
Built: Bitauto, NIO
Timeline
1974 Born in Anhui.
2000 Co-founds Bitauto.
2010 Bitauto lists on the NYSE.
2014 Founds NIO.
2017 Launches the ES8.
2018 NIO goes public on the NYSE.
2019 NIO nearly runs out of money.
2020 Hefei backed rescue.
2026 Refocuses on premium; new models planned for 2027.