On April 2, Ledao President Ai Tiecheng announced through the Ledao App that from now on, he will no longer serve as the president of Ledao Automobile.
The reason for his resignation does not seem to be complicated. Previously, Ai Tiecheng said in an interview with the media that the goal for March this year was to sell 20,000 vehicles, and he would be fired if he failed to do so. The data just released showed that Ledao's sales in March did not reach the expected target, which was 4,820 vehicles. "In the past period of time, Ledao L60 has not been able to achieve sales that match its product strength." Ai Tiecheng, who announced his resignation on the same day, said so.
May 16, 2024, Shanghai, Ai Tiecheng, President of Ledao Automobile.
On December 27, 2024, Ledao's first product, the L60, was launched. As a brand of NIO that penetrates the mass market, Ledao is tasked with making money. However, five months after its launch, Ledao's sales have continued to decline. In December 2024, 10,500 vehicles were delivered; after entering 2025, 5,912 vehicles were delivered in January, 4,049 vehicles were delivered in February, and 4,820 vehicles were delivered in March.
Before joining NIO, Ai Tiecheng worked as a senior executive in foreign companies such as Procter & Gamble and Disney, responsible for the localization development of global brands in China. According to him, at that time, he had the opportunity to choose another luxury brand besides NIO, but he finally chose NIO because he was more attracted by the idea of "making a Chinese brand a great global brand". After he was recruited by Li Bin to be in charge of the new brand Ledao, he was given high hopes of "Ledao Tiecheng".
On the day Ai Tiecheng left, NIO announced that Shen Fei, the former head of energy business, would serve as the president of Ledao Automobile, and would be fully responsible for Ledao's sales and regional company management.
Shen Fei joined NIO in 2015 and was one of the core management members in the early stages of the startup. He is also the most senior vice president of NIO's management system. Ledao's R&D, supply chain, and quality departments will report to NIO CEO Li Bin; the marketing system will report to NIO President Qin Lihong.
