EVs: Chinese EV Maker Nio Expands Into Norway
One of China’s best-known electric carmakers is expanding into the European market in a major way, particularly in Norway. That carmaker is Nio, for which Norway will be its first step overseas.
- Nio has officially announced its market entry into Norway where it’ll open a full retail system including showrooms and a service center.
- Nio’s flagship ES8 SUV will be its first car to be introduced in Norway this year while its ET7 sedan follows next year. For sales, Nio says it’ll open its first dedicated retail center in the country in the third quarter of this year while four more will be launched next year.
- Nio plans to start delivering cars to Norwegian customers in September 2021.
- Norway is one of the major markets for electric cars globally, as it made up 54% of the cars sold in the country last year. It’s one of the foremost countries at the push away from ICE cars towards electric models.
- With Norway’s status as a major market for EVs, it’s no surprise that Nio is making its first step overseas into the country. Already, one of Nio’s main rivals, Xpeng, has begun shipping cars in the country.
- Nio is one of China’s foremost electric carmakers, with deliveries of nearly 37,000 vehicles last year. Its major rivals in the country include Xpeng Motors and famous Tesla.
- Nio had $2.5bn in revenue last year.