Please ensure Javascript is enabled for purposes of website accessibility

NIO Plans to Begin Sales in Europe This Fall

By Howard Smith - May 6, 2021 at 12:15PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The electric-vehicle company's first foray outside of China will be in Norway.

Chinese electric vehicle (EV) maker NIO (NIO 3.84%) gave a preview last week of its planned launch in Norway, and today the company gave investors details on its first move to do business outside of China. At the NIO Norway news conference today, the company said it aims to begin its first European sales this September.  

NIO said it will initially sell its flagship ES8 electric SUV in Norway, followed by the new ET7 luxury sedan, which will go into production early next year. And NIO won't just be selling cars in the small European country. It plans to establish a full NIO ecosystem, including a service network, its unique battery charging and swap stations, and a social community. 

NIO battery charging and swap station

NIO battery charging and swap station. Image source: NIO.

NIO's power segment offers a unique service among EV makers. It includes a subscription service that customers can join for fast battery swapping as a way to "recharge." NIO said today that it expects to establish its battery swap stations in Norway by the end of 2022, connecting five major cities and freeways.

As part of its NIO Norway community effort, the company also announced a user advisory board as a way to gather input from local customers on products, service quality, and charging and swapping convenience. Marius Hayler, general manager of NIO Norway, issued a statement saying: "NIO will bring its joyful lifestyle to local users by building a community starting with vehicles. We will all share joy and grow together." 

While this will mark NIO's first vehicle sales outside of China, the company already has a global presence including a design center in Munich, an engineering center in Oxford, England, and a technology center on the West Coast of the U.S. 

Howard Smith owns shares of NIO Inc. The Motley Fool owns shares of and recommends NIO Inc. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Nio Inc. Stock Quote
Nio Inc.
$20.82 (3.84%) $0.77

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/12/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.