Written by Cláudio Afonso | LinkedIn | X
Belgian media outlet De Tijd reported earlier this week that electric vehicle maker Nio was in discussions with Volkswagen Group to acquire Audi’s soon-to-close factory in Belgium.
Speaking to media immediately after the Onvo L60 launch event, Nio Group CEO William Li denied the report saying the EV maker is “cautious about investing in fixed assets” with one exception.
“Nio has no plans to take over the Audi plant, and the company is cautious about investing in fixed assets, except for battery swap stations,” Li stated.
“How can Nio afford a factory that Audi can’t afford? (The rumors) are groundless,” the chief executive added.
Prior to the event, when contacted by Chinese media outlet Yicai, a spokesperson of the Shanghai-based manufacturer had said that the company “currently has no comment.”
The report, which cited “reliable sources”, claimed that a delegation from Nio had recently visited adding that a bid should be submitted by next Monday, September 23.
Nio expanded to Europe in 2021 with Norway, the country with the highest EV adoption by far as of today, with Germany, the Netherlands, Sweden and Denmark following a year later.
Although Nio management has repeatedly stated over the past few years that local production in Europe would only make sense once sales volumes significantly increase, the anticipated confirmation of additional duties by the European Commission has changed the outlook.
This has accelerated plans by Chinese EV makers to either purchase or build factories in Europe.
Last month, Nio CEO William Li said that the current European plan is now to “focus on the existing” markets.
“So we will focus on the existing five European markets that we have already started. We also know that to establish Nio, such a premium brand in the European market, will also take a longer time and we are very patient with that,” Li stated during the earnings conference call.
Written by Cláudio Afonso | LinkedIn | X
