Chinese carmaker Nio is aiming to be a top-3 brand in the premium EV segment in the United Arab Emirates within two to three years, according to Mohammed Maktari, chief executive of the company’s Middle East joint venture.
The Shanghai-based automaker entered the UAE in late 2024 after forming Nio MENA, a regional subsidiary established through an agreement with its main backer and Abu Dhabi-based CYVN Holdings.
Speaking to CNBC, Maktari declined to set a target for the next 12 months but said the company’s two to three year goal is clear.
“Our target is to be number three in the premium electric market,” he said, adding that Nio wants to achieve that market position “in the next two to three years.”
Nio does not break down sales by region or country, leaving no official data on its performance in the UAE, or other markets.
Nio offers the three-row EL8 SUV (known as the ES8 in China), the EC6 coupe SUV and the entry-level ET5 sedan.
The ET5 is priced from AED 205,800 ($56,000), while the EC6 SUV starts at AED 247,800 ($67,500). Prices for the luxury EL8 begin at AED 370,800 ($100,100).
“It’s a little bit difficult to define because not all electric brands are premium; some are aspiring to become premium,” Maktari said. “But we want to be a minimum of number three in the next two [to] three years and then we readjust our targets again.”
Asked about longer-term ambitions, Maktari pointed to the company’s founding vision.
“Working with the community overall [so] that we can reduce emissions, reduce noise, and improve the quality of life,” he said.
“As I keep saying, the founder’s view of the brand is ‘Blue Sky Coming.’ So it’s really about improving the quality of where we live. That’s kind of where we want to go,” he added.
The comments come as Nio expands its retail presence in the Gulf.
The company opened earlier this month its first Nio Hub in the Middle East, located off Sheikh Zayed Road in Dubai’s Al Quoz district.
The facility combines a showroom, delivery center and after-sales service.
It is Nio’s third location in the UAE, following the opening of a Nio House in Abu Dhabi in late 2024 and a Nio Space in January at Dubai International Financial Centre’s Gate Avenue.
The company set up its first flagship showroom in the Middle East in November 2024 — the Nio House in Abu Dhabi.
Earlier this year, the EV maker opened a Nio Space in the Gate Avenue at Dubai International Financial Centre (DIFC), which marked the company’s 439th Nio Space globally.
Nio launched its first battery swap station in the Middle East in late February. The station is located in the Yas Marina F1 Circuit.
The company said recently that 15% of drivers in the United Arab Emirates have used the battery swap station in its first five months.
In mid-June, the company also set up a temporary store in Abu Dhabi’s largest shopping centre, the Yas Mall, where it showcased its lineup.
In August, Nio Group’s global deliveries reached a new record with 31,305 vehicles, up 52% from July and 59% higher than a year earlier.
The figures include 10,525 units from its core premium Nio brand, 16,434 vehicles from the family-focused Onvo sub-brand, and 4,346 units from the entry-level Firefly marque.
