The NYSE-listed EV maker NIO wants to implement its expansion plans faster than originally planned. The firm currently operates exclusively in China – now the first vehicles from the manufacturer are to be offered in Europe as early as the second half of 2021.
Company CEO William Li announced that the brand is to be represented in the most important global markets by 2023/2024. In Europe, NIO initially plans to compete in individual countries – but has not yet revealed which countries.
The accelerated expansion plans could be related to the recently encouraging business figures for the second quarter of 2020. The balance sheet is much more positive than expected: compared to the same period last year, sales volumes increased by almost 190%, while turnover grew by almost 150%.