Hefei's Bet on NIO Sets a Benchmark—Who Will Replicate the "Master Playbook"?

In early 2026, NIO rolled out its one-millionth vehicle in Hefei. Founder Li Bin publicly thanked the city, highlighting the six-year symbiotic and mutually beneficial relationship between the company and Hefei. Meanwhile, Yao Zhenhua, the de facto controller of Qoros Auto, filed a real-name complaint alleging that his assets were auctioned off at unfairly low prices—a stark contrast that underscores the pivotal role local governments play in industrial investment. In 2020, Hefei made a strategic RMB 7 billion investment in NIO, not only helping the company survive a crisis but also establishing the “NIO China” headquarters, co-building the XinQiao Industrial Park, and implementing chain-based investment promotion strategies to cultivate an open new-energy vehicle (NEV) ecosystem. By 2025, Anhui Province had achieved national leadership in three key metrics: total vehicle production, NEV output, and automotive exports—completely transforming its automotive industry. Experts note that the core of the “Hefei Model” lies in professional judgment, long-term thinking, and an ecosystem-oriented approach. However, replicating this success is difficult due to the scarcity of high-quality investment targets, intensifying market competition, and varying capabilities among local governments in decision-making. Today, regions across China are exploring new frontiers such as AI and the low-altitude economy. Whether they can become the next successful “deal-makers” hinges not on mimicking past stories, but on building industrial governance capabilities that support innovation, respect market dynamics, and foster collaborative development.