Deutsche Bank analyst Edison Yu was among the guests at the China EV Ride & Drive event held last week in Oslo (Norway) where he had the opportunity to test drive many Chinese EV models and to participate in a virtual roundtable with NIO‘s CFO Steven Feng.
In his most recent customer note, Yu said that the company will enter all four markets scheduled for the coming months with the ET7 sedan, something that had only been confirmed for Germany – and the Dutch Market through a later deleted tweet.
“Later this year, NIO will officially enter 4 more markets including Germany, Holland, Denmark, and Sweden with its flagship ET7 sedan, accompanied by battery swap stations and greater local hiring,” the analyst said.
In late June NIO said on Twitter that it would enter the Dutch market with its NIO ET7 model sedan in the fourth quarter of the year. When asked what vehicles will be available in the last quarter of the year in the Netherlands, NIO replied “We will start with the ET7 in the Netherlands”.
BE THE FIRST ONE TO GET THE NEWS
Less than 24 hours later, the official NIO Deutschland account deleted the tweet saying they “mixed the information” and that the sedan NIO ET7 will be available in Germany in Q4 2022. When it comes to all the other markets (The Netherlands included), enthusiasts may “stay tuned for more information”.
“Yesterday we mixed the information about models in Europe and Germany. The model available in Germany in Q4 is the NIO ET7. For all other markets like [The] Netherlands – stay tuned for more information!,” NIO said.
When commenting on the experience at the first European NIO House located in Oslo, Deutsche Bank analyst also enhanced the “constant stream of visitors” while he was there and the confirmation that the new showrooms in Munich (Germany) and also in Rotterdam (The Netherlands) are currently under construction.
On Wednesday, the company posted two job vacancies on LinkedIn for its Purchasing team in Hungary namely a Senior Buyer and an Indirect Spend Buyer. Both of them will have the responsibility of driving “procurement activities primarily in areas of plant related services as well as production material”.
Meanwhile, the company is already preparing for the second phase of its European expansion into eight new countries: Austria, Belgium, France, Hungary, Italy, Spain, Switzerland, and Portugal. During the last NIO day — held in December 2021 — the EV maker confirmed its plan to expand its services to 25 markets by 2025.