Nio is reportedly expanding to Hong Kong and Brazil with local distributors, as it continues its global expansion and the business model switch.
In the eleven new markets Nio said it is entering before the end of 2026, the company is adopting a traditional dealership model, allowing a faster expansion and much lower costs.
Citing an internal source at Nio, the Chinese media outlet Lanjinger reported on Thursday that the EV maker will enter the Macanese market next week (July 1), after announcing it was looking for a dealership in the region earlier this month.
Nio is partnering with Guangdong Hongyue Automobile Sales Group, which will be responsible for the market operations, sales services and brand ecosystem of the three brands Nio, Onvo, and Firefly.
The source said that the brand is adopting the same agency model in Hong Kong, where it plans to enter in the fourth quarter. Both Hong Kong and Macau are right-hand drive markets.
The report stated that Nio intends “to expand into more markets with minimal capital investment,” planning to apply the same business model in other upcoming markets, including Azerbaijan and Brazil “in the future.”
Brazil registered around 177,000 electric vehicles in 2024. However, the market share of EVs in the country is less than 1%.
According to Climate Scorecard, Brazil had around 12,000 charging stations up until March 2025. Brazilian consumers pointed out limited public charging stations and charging time as the main challenges in EV adoption.
Chinese giant BYD is currently in the final stages of constructing a passenger car factory in the state of Bahia. The group sells over 13 models in the country, both hybrid and electric. State-owned GAC Motors also expanded to Brazil in late May.
Nio’s co-founder and president Lihong Qin announced the brand’s entry into Azerbaijan late last year, at the 29th Conference of the Parties to the UN Framework Convention on Climate Change in Baku, where it was the mobility partner.
According to Eurasianet, Azerbaijan imported 15,471 hybrid and electric vehicles from China in 2024, which were valued at $396 million.
Azerbaijan has adopted several government policies that have made EVs more attractive to consumers. Since 2019, imported electric vehicles have been exempt from value-added tax in the country.
In addition, starting in 2022, customs duties on imported batteries and charging equipment have been eliminated.
