NIO Europe Vice-President Hui Zhang was present on Monday at the Swedish Summit in Stockholm ahead of the expansion of the electric vehicle maker to the Nordic country. In an interview to the financial newspaper Dagens Industri, Zhang was asked about NIO‘s competition in Sweden with Tesla and the Swedish Polestar already established.
NIO Europe VP answered, “In fact, we are competing with ourselves. We are a company with many new business models including battery swap and battery as a service (BaaS) which demand a lot of work from ourselves”.
“We have also our strategy both short-term and long-term. But for the Swedish market we really have a long-term commitment. As I mentioned, we’re going to have our ecosystem implemented here and that’s why I say the competitions is rather ourselves. How we can manage well under a difficult period especially in Europe with some political challenges as well. To implement the strategy, what we made for the long-term really into the execution,” he added.
BE THE FIRST ONE TO GET THE NEWS
In the first quarter of 2022, the South Korean automaker KIA led the sales of electric vehicles in Sweden with 3,407 vehicles sold, representing an EV market share of 16.9%. The automaker was followed by Tesla that delivered 3,136 units and Polestar came at 6th on the ranking with 1,188 units of its Polestar 2.
EV sales in Sweden during Q1 2022
The EV manufacturer will enter 4 new European Markets in 2022 such as Germany, Denmark, Sweden and The Netherlands. During the last NIO Day, the company revealed that will be present in 25 Countries by 2025.
In late March, a NIO ES8 Model with NAD (NIO Autonomous Driving) capabilities was spotted in Uppsala, Sweden. In September 2021, the company entered Norway being its first European Market and is currently selling only NIO ES8 model there. Although, NIO ET7 will be available there in the fourth quarter of 2022 and NIO ET5 in Spring 2023, as announced by the company on January 22.
BE THE FIRST ONE TO GET THE NEWS
On April 27, NIO reached a total of 500 vehicles delivered in Norway since its debut on September 30, 2021. The Scandinavian country has been the entrance point to the European market for many EV makers due to its strong EV adoption.
Earlier today, NIO announced opened the orders of the 2022 ES8, ES6, and EC6 models. The upgraded versions were unveiled last week during NIO’s product launch event with the arrival time to NIO Houses expected for July and the beginning of the deliveries for August.
The new versions are already equipped with Qualcomm 8155 chip digital cockpit computing platform and with NIO’s intelligent system Alder featuring higher computing, better perception and more powerful connectivity.
Last week, the company hosted on Tuesday morning a product launch event where it launched a new medium five-seater SUV with an NT2.0 platform, NIO ES7. The model was rated a five-star safety of C-NCAP and Euro NCAP tests, a Cd of 0.263 and a tarting price of RMB 468,000 ($69,700 USD).
On the first day of June, NIO reported 7,024 vehicles delivered in May showing an increase year-over-year and also from the previous month, when delivered 5,074 units. On NIO App, William Li answered to customers and enthusiasts saying “Thank you all! We will continue to work hard in June”.