Chinese EV maker Nio registered three vehicles in Sweden last month, down from both October’s figures and year-earlier levels.
Year-to-date through November, the premium brand has registered 96 vehicles in Sweden, down 21.3% from 122 units in the same period of 2024.
All three vehicles registered in November were ET5 models, though the data does not specify whether they were sedans or station wagon variants, as Sweden’s official Mobility platform does not differentiate between the two versions.
The ET5 — both the sedan and the Touring combined — has been Nio‘s strongest performer in Sweden with 80 units registered year-to-date, up 370.6% from 17 vehicles in the first eleven months of 2024.
However, other models have struggled significantly in the market.
The EL6 SUV recorded zero November registrations after logging two units in October, bringing its year-to-date total to seven vehicles, down 56.3% from 16 units a year earlier.
The flagship EL8 three-row SUV similarly failed to register any sales in November, maintaining its year-to-date total of seven units, unchanged from 2024.
The company continues to focus on selling remaining inventory from its 2022 and 2023 model years, supported by several incentives launched in recent months.
Registration figures have dropped for the third consecutive month after the company reached its yearly record of 29 units in August.
Nio offered in November a 0% interest rate on purchases of 2023 units of the ET5 and ET5 Touring Winter Edition — which also include winter tires and 3 years of free service.
For EL6 (named ES6 in China) and EL8 (ES8) units produced in 2024, similar benefits have been set, but with a 2.99% interest rate.
These conditions apply to 36-month contracts with a 20% down payment and a 55% residual value.
The promotion is available while stocks last.
All purchases must include Battery as a Service (BaaS), which allows access to Nio‘s battery swap stations. The brand currently operates 8 in Sweden and 60 across Europe.
Battery Swap Stations
Last month, Nio‘s Swedish battery swap stations were approved as part of the country’s frequency regulation system, which helps stabilize Sweden’s electricity grid.
The stations “can adjust their electricity consumption in just a few seconds, store surplus energy when supply is high, and reduce demand when consumption increases,” according to the EV maker.
In Europe, the brand introduced its battery swap stations in Norway in early 2022 and has since expanded to several other countries.
In Denmark, the country’s sole Nio Power Swap station provided frequency regulation services since February 2024, according to Fei Shen, the former Senior Vice President of Nio Power and current head of the company’s Onvo brand.
However, the station was recently closed.
Market Expansion
On Thursday, Nio shared an update on the company’s European market expansion.
Nio said it continues to “make steady progress” as it brings the “Nio and Firefly experience to an increasing number of users in six key markets: Belgium, Denmark, Austria, Greece, Portugal, and Luxembourg.”
Prior to this expansion, only the Nio brand was present in Norway, Sweden, Germany, the Netherlands, and Denmark — the only market where it had not yet opened a ‘Nio House.’
The country became the first market where Nio switched from direct sales to a distributor business model.
On November 23, Nio delivered its first vehicle in Denmark as it relaunches in the country, where it is now also selling the debut model of its Firefly sub-brand.
In new markets, Nio has been expanding only via local distributors as it aims to boost demand worldwide.
Last month, the company officially launched in Austria, Belgium, and, most recently, Portugal.
