Nio‘s management team has been working on the three year business plan for the entire company, including product portfolio and planning for global markets.
Speaking with customers at the EV maker’s first showroom in Europe, Nio‘s founder and CEO William Li revealed that next year the company will continue entering more markets.
“So far, we have already started in five [European] countries with our [inaudible] partners and next year we plan to enter 20 countries through our [inaudible] partners,” Li said.
The five new markets include Belgium, Austria, Greece, Hungary and Portugal.
The launch event in the Austrian market was held earlier this week in Vienna, the country’s capital.
In its first phase of European expansion, the Shanghai-headquartered Group has launched in Norway (2021) with Germany, the Netherlands, Sweden and Denmark following in 2022.
The countries for 2026 include Costa Rica, Singapore, Uzbekistan, Romania, Armenia, Czechia, Poland, Luxembourg, among others.
Li said that with the insights and resources of the local distributors in the new markets, the EV maker will listen to their opinion about which models would better suit the market.
“They can also help us to define the right features, the right experience for the targeted users, and also targeted marketing,” Nio‘s CEO stated.
“In that case, we will be able to better make full use of our investment and maximize the return on such investment,” Li added.
When asked about the arrival of newer models which are currently only available in the Chinese market, Li said the mid-term business plan is currently under discussion.
“Regarding the overall product and business planning, it will be wrapped up by Q1 next year and by then, we will have a clearer picture for what kind of products — under the Nio brand, the Onvo brand — will become available for the European markets in the coming three to five years.”
Answering a separate question, Li said the company is planning to begin selling Onvo vehicles in its European markets from 2027.
The company’s top management — founder and CEO William Li, co-founder and president Lihong Qin, CFO Stanley Qu and Firefly president Daniel Ge — have landed in Europe this week.
The executives visited the Netherlands on Monday and were in Norway on Tuesday.
