Written by Cláudio Afonso | LinkedIn | X
Electric vehicle (EV) maker Nio, which expanded to the German market in October 2022, has registered 35 vehicles in August, three more than in the previous month.
Year to date, the company led by William Li has registered 301 vehicles in the German market. The latest addition to Nio’s portfolio in the five European markets is the flagship SUV EL8, with deliveries expected to start this month.
In August, the market share of battery electric vehicles (BEV) in Germany was 13.7 per cent (27,024 units) dropping by 68.8 per cent from August 2023.
Sales of BEVs in the country have significantly declined since the German government cut incentives at the end of last year. Earlier today, Reuters reported that the German cabinet has agreed to proposed tax reductions as Volkswagen Group plans to shut down plants in Germany for the first time in its history.
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The EL8 is available in Germany, Denmark, the Netherlands, Norway, and Sweden, and it was initially launched in China in late 2022. The model is priced in Germany at €108,900 with the battery included and at €87,900 with the Battery as a Service option.
In a reaction to the extra tariffs announced by the European Commission, Nio has hinted that an adjustment on the prices “cannot be ruled out”. However, the company says that is maintaining its prices “at this stage”.
Written by Cláudio Afonso | LinkedIn | X
