As part of its global expansion efforts, Nio Inc, a Chinese electric vehicle (EV) manufacturer, announced on Thursday that it has opened its first overseas store in Norway and plans to begin selling cars there.
According to Chief Executive William Li, Nio, which manufactures electric sport utility vehicles in China’s eastern city of Hefei, employs over 9,000 people worldwide.
Since its inception in 2014, the company, which is backed by Chinese tech behemoth Tencent, has delivered over 100,000 cars, almost entirely in China.
Marius Hayler, the automaker’s Norway general manager, announced at an online event that Nio was constructing its first showroom outside of China in Oslo.
The first showroom will open in September, according to the plan. According to Hayler, Nio plans to open stores in four additional Norwegian cities by 2022.
According to Hayler, Nio will sell ES8 SUVs and ET7 sedans in Norway, as well as open charging stations and battery swapping stations.
Electric vehicle sales in Norway are on the rise, accounting for more than half of all new car sales in the country.
China’s electric vehicle manufacturers have been attempting to boost exports in order to compete with traditional automakers.
Electric cars are already available in Europe from Nio’s competitors Xpeng Inc and BYD.
Qin Lihong, Nio’s co-founder and president, told Reuters at the Shanghai Auto Show that when the company sells cars around the world, it will build a user community just as it does in China.
Qin had stated that the company would adapt to the local environment by hiring local employees and learning the local culture.
Based on its New York stock listing, Nio is valued at US$61.8 billion, just behind BMW of Germany.
Nio’s CEO, William Li, stated last year that the company plans to expand its market reach starting in 2022. Nio executives have stated that the company is looking into expanding into the United States, which is the world’s second largest auto market after China.
