Chinese electric vehicle startup NIO has been sticking to its plans to serve customers in Germany since this year. The European expansion started at the end of 2021 with a pilot project in Norway. The company, which, meanwhile, has run into financial difficulties, is forced to pay its own taxes to conquer other markets.
“We will launch in Germany in the fourth quarter with the first vehicle, the ET7 sedan,” said Hui Zhang, group vice president. car week. The Netherlands, Sweden and Denmark will follow.
Zhang acknowledged that, like other automakers, NIO is grappling with industry issues such as price hikes. First of all, prices for battery cells have risen, but everyone has to deal with this. The company has been working “very intensively” for two years on the supply of computer chips, which have long been in short supply due to the corona crisis.
According to the NIO manager, the pandemic lockdown at the Shanghai headquarters has already ended, allowing record deliveries to be made in June. The launch delivered nearly 13,000 electric vehicles, up 60% from the same period last year. With 25,000 vehicles, the second quarter was 14.4% higher than the same period last year. Since its founding in 2014, the brand has sold over 200,000 vehicles.
NIO has the capacity to manufacture 600,000 vehicles at two factories in China, Zhang said. There are currently no plans to build an additional plant in Europe. Looking at the finances, the manager said that about $8 billion in cash was available. It’s well funded.
Currently, the good financial position allows the startup to plan the creation of a network of battery replacement stations in Germany. The 1000th store was recently opened in China. The third generation of automatic changing tables is currently being developed. NIO also contributes to the expansion and development of its own charging stations and other services.