Nio Group is entering Hungary a month after launching in Austria, with its main brand and sub-brand Firefly represented by the same distributor.
AutoWallis hosted a media event in Budapest on Wednesday to introduce the Shanghai-based EV maker to the Hungarian market.
Nio is entering Hungary with the second generation of the ET5 sedan, the ET5 Touring station wagon, the EL6 SUV, and the debut model of the Firefly sub-brand.
Deliveries are expected to begin next month, with the distributor stating that the “four fully electric models will be available from January onwards.”
The Hungarian-based automotive group represents several Chinese brands, including BYD (which is setting up production in the country), Geely’s Farizon and XPeng.
XPeng launched in Hungary just three months ago, with a launch event in Budapest. AutoWallis is also responsible for the brand’s promotion in Croatia and Slovenia.
Lineup in Hungary
According to local media outlet e-cars.hu, the ET5 sedan will be priced from HUF 24,490,000, equivalent to $73,800, while the ET5 Touring station wagon begins at HUF 24,890,000 ($75,20).
The EL6 SUV — known as ES6 in China — has a starting price of HUF 26,990,000 ($81,3150).
The Firefly EV, the more affordable in the lineup, will begin at HUF 11,990,000 ($36,140).
It is unclear whether the ‘Comfort’ version, recently launched in European markets, will also be available in Hungary.
The first Nio dealership in the country will be opening on Budapest’s 13th District, at Váci út 45.
European Expansion
Regarding Nio, the distributor also holds rights for Czech Republic, Poland, and Romania — which the brands are expected to enter next year.
Hungary became the EV maker’s tenth European market, following its recent entry in Austria, Portugal and Greece.
In the new markets, besides adopting a business model based on local distributors, the company is not offering its 7 series.
The ET7 is still available in its first European markets while stock lasts.
The previous version of its EL8 flagship SUV, replaced by a new one in China three months ago, is only being introduced in select markets.
Nio has been facing weak demand across Europe and is prioritizing the delivery of 2023 and 2024 model inventory in the continent.
However, as reported by EV earlier this week, preliminary data showed that Nio Group is on track to achieve record monthly sales this month across the Netherlands and Sweden.
Daily registration data for Germany, the largest European automotive market, is not tracked by the EU-EVs platform.
Battery Swap Plant
Nio has since 2022 a plant in Hungary to assemble its battery swapping stations destined for the European markets.
Located in Biatorbágy, outside Budapest, it covers about 10,000 square meters.
However, Nio‘s battery swap network development in Europe has sharply slowed this year due to investment cuts.
The company currently operates 60 stations across Germany, the Netherlands, Sweden, and Norway.
It is still uncertain whether Nio will introduce its battery swap system in the new European markets it is entering as the brand leaves the decision to the distributor of each country.
Its only station in Denmark — where it is re-entering with a dealership-based model — was closed earlier this year, marking the first shutdown of such a facility in Europe.
