After announcing earlier this month it is entering seven new markets in Europe, Chinese EV maker Nio is now confirmed to enter Greece, Cyprus and Bulgaria.
The report came from local media outlet Business Voice on Thursday, which stated that the brand has signed an agreement with Greek group Motodynamiki.
The group will be responsible for the distribution of both Nio and Firefly vehicles across the three markets.
Nio continues to switch to a mixed business model, which includes its direct-to-consumer showrooms but also local dealerships.
The brand previously focused only on a direct-to-consumer business model, considering it better aligned with the premium segment the company aims at.
However, as dealerships allow a faster and cheaper expansion, Nio is now adopting the model — following BYD, XPeng and other Chinese automakers.
Nio entered Europe via Norway in September 2021. A year later, the brand expanded to four new markets: Germany, the Netherlands, Denmark, and Sweden.
Until the end of 2026, the Shanghai-based Group will enter Belgium, Luxembourg, Austria, Hungary, Czech Republic, Poland, and Romania.
Hedin Mobility Group, the local partner for Belgium and Luxembourg, said sales operations in Belgium will begin in September, with Luxembourg to follow in 2026.
The group’s partner for Austria, Hungary, Romania, Czechia, and Poland, AutoWallis, said last week that sales in Austria and Hungary will start between October and December.
The Shanghai-based EV maker plans to offer four Nio models in the new markets: the EL6 SUV, EL8 flagship SUV, ET5 sedan, and ET5 Touring.
Compared to the existing markets, Nio will not sell its sedan and SUV from the ‘7 series’ — the ET7 and the EL7 models.
Onvo, Nio’s family-focused sub-brand, launched in China in 2024 — and it is not currently scheduled for introduction in Europe.
The company announced in April that its second sub-brand Firefly would launch in the Netherlands and Norway this year, as part of the plan to enter 16 countries across five continents in 2025.
The Nio Group aims to be present in 25 countries by the end of this year.
The automaker sold 58 electric vehicles across its five European markets last month, up six units from April’s figures, but a 35% plunge compared to May 2024.
To boost adoption of its existing inventory in Europe, Nio began offering two years of free charging via its battery swap program in February.
As of April 28, Nio operated 59 battery swap stations across the old continent.
Last month, the company announced that it had begun rolling out a new over-the-air update of its operating system, Banyan, in Europe.
The latest software version introduces an App Store in the system that enables drivers to easily browse, download, and manage all their vehicle apps in one location — including both Nio‘s native apps and third-party.
Banyan’s 2.4.1 update will also bring improvements to the assisted driving system, such as improving the lane-keeping feature and the predictive speed control, according to Nio.
