[The Exiled]

Chinese electric car maker Nio eyes Europe with Norway foray

Chinese electric car upstart Nio Inc. will take its first step outside its home market, opening a showroom and beginning to sell vehicles in environmentally conscious Norway. Nio will start delivering the latest version of its ES8 all-electric six- or seven-seat sports utility vehicle to the Nordic nation in September. Its first electric vehicle sedan, the ET7, will launch in the second half of 2022. Preorders for the ES8 are expected to start shortly. Norway last year became the first nation in the world to see electric cars seize a majority of annual vehicle sales, thanks to green-friendly government incentives and extensive charging infrastructure.

The country wants all cars sold there to be zero-emission in 2025. Nio is planning on going with a direct sales model, supported by service centers and mobile-service cars, in Norway, unlike other Chinese carmakers that have opted to partner with local dealers. Nio will also build four battery-swap stations in Norway this year with another 12 planned in 2022 across five cities. By constructing battery-swap stations, Nio is setting up the infrastructure for not only charging options but also its battery-as-a-service concept, whereby customers can buy a car and lease the battery. That makes for much lower upfront payments. Initially, battery-swap stations will be made in China and shipped to Europe, although over time, Nio may consider local production.

Izvor: Bloomberg