Written by Cláudio Afonso | LinkedIn | X
Nearly three years ago, Nio’s founder and CEO William Li said that the EV maker would “establish its presence in over 25 countries and regions worldwide.” Despite a slowdown in its global expansion, the next 12 months are expected to bring more than ten new markets as the EV maker has adopted a dealership model, enabling a faster market entrance.
After expanding to Norway in the second half of 2021, the company added four new markets in Europe entering Germany, the Netherlands, Sweden, and Denmark in October 2022. Year to date, the company has officially launched in the Middle East region, and Israel while Azerbaijan was announced as its next market last Friday.
Amid one of his last visits to Europe last May, William Li said the brand would “probably” expand to the UK in 2025. However, in second-quarter earnings call held in early September, Nio’s chief executive said the current European plan is now to “focus on the existing” markets. The extra tariffs implemented by the EU on imported electric vehicles became effective last month and range between 7.8% and 35.3%.
Speaking to the Chinese media outlet CGTN in Azerbaijan, Nio’s co-founder and president Lihong Qin said the company will focus on its home market while hoping that it “can expand to up to 25 different countries or regions by the end of next year.”
“We do think, you know, every car company is born global. Without a global presence, our car company cannot even survive in a single market. That is what we believe. So of course, you know, China is our home market. And also this is the biggest and also the most competitive market,” Lihong Qin stated.
“We have to beat the competition in the China market first of all. And in parallel, we will proactively expand our presence in different regions and markets around the world. In the Middle East, Europe, and also Azerbaijan. And I hope that we can expand to up to 25 different countries or regions by the end of next year. And we want to enter more than 90% of the market presence in next five to 10 years. That’s our plan,” the executive added.
Nio’s co-founder announced last Thursday that the electric vehicle manufacturer is gearing up to enter the Azerbaijani market with official communication confirming it on Friday.
The locations for its first showroom, known as Nio House, and its inaugural battery swap station will be situated in the main commercial area of Baku, the country’s capital.
In a new video shared on Friday, the executive also revealed that Nio has partnered with the local firm GreenCar, which will handle vehicle sales and service in the market. Deliveries will start in the second quarter of 2025.
In the video published last Friday, Lihong Qin announced that Nio signed a partnership with the local distributor of Azerbaijan Green Car. Deliveries will start in the second quarter of next year.
The expansion follows Nio‘s recent entry into the Israeli market, where it began selling part of its lineup through local partner Delek Motors. The EV maker has recently launched in Israel through a partnership with Delek Motors, one of the country’s largest vehicle distributors.
In September, Delek Motors, which was appointed to establish a dedicated sales team for Nio in the country, began hiring a store manager for the first Nio showroom.
The first store, or Nio House as they are known, is located in Herzliya, a city within the Tel Aviv metropolitan area, and opened its doors last week showcasing five models from the Nio brand.
Written by Cláudio Afonso | LinkedIn | X
