Chinese EV maker Nio is stepping outside of China for the first time

Chinese EV maker Nio is stepping outside of China for the first time

3 years ago
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https://techcrunch.com/2021/05/06/chinese-ev-maker-nio-is-stepping-outside-of-china-for-the-first-time/

Chinese electric vehicle maker Nio has chosen a Norway — an EV hotspot — for its first foray into international markets. Nio Norway will offer a European version of ES8, Nio’s flagship electric SUV, to Norwegian customers from September this year. The ET7 sedan will follow in 2022.

“The decision to have Norway as our first destination overseas is backed by long-term thinking,” Nio founder William Li explained at an event Thursday. “Norway is the most EV-friendly company.” Among the European countries, Norway is the biggest adopter of battery electric vehicles. The company’s relationship with Norway stretches back to 2018 when Norges Bank, the country’s sovereign fund, gave the automaker “critical support” during its initial public offering, Li said at the event. Nio signed a strategic partnership agreement with the Norwegian EV Association, also in 2018.