Nio eyes expansion to five European countries
Business & Technology
After Nio’s foray into Norway in May, the Chinese EV start-up is gearing up for an expansion to at least six European markets by next year. This story is from the The China Project A.M. newsletter — sign up for free here.
After Nio’s foray into Norway in May, the Chinese EV start-up is gearing up for an expansion to at least six European markets by next year.
- The ambitions were made on a conference call by CEO Lǐ Bīn 李斌, though he did not specify which five countries.
- Nio also claimed that their orders in Norway have “exceeded expectations” with one out of every four customers who tried its cars ending up placing an order.
The context: Nio has become known for their “battery-as-a-service” (BaaS) model, a subscription service that charges and swaps batteries for EV owners.
- Based on preliminary feedback, authorities in Norway were “quite excited” about the BaaS model and battery swap stations, the firm said in August.
However: Chinese companies like Nio will face an increasingly challenging global environment: as AI becomes more prevalent in smart EVs, user safety and data privacy will be top of mind for the European government.
