NIO is Considering Expanding Overseas
NIO's next stop is...?
Chinese Electric Vehicle (EV) founder William Li claimed NIO company is prepared to start selling cars in Europe and the US.
The company is positioned well in China's premium EV car market, and the goal of penetrating overseas is not a huge surprise. NIO claims to have launched an internal department to discuss the global market and strategy analysis – now is the time to start operating. Products and teams are already on the way, according to Li.
The company has been a global startup since its inception, and has an R & D center in the US, though it laid off many employees in America to get through a situation of heavy losses and enormous cash flow gaps last year.