The First Factory Of NIO In Europe Will Commence Operation Soon

Chinese EV startup NIO has said that its first factory in Europe will be operational in September, 2022. There will be no manufacturing of cars in the new facility.

The joint announcement was made by Peter Szijjarto, Minister of Hungarian Foreign Affairs and Trade, and Hui Zhang, Vice President of NIO Europe Office in Budapest, Hungary. The official statement of the company states that the NIO Power Europe Plant is funded by NIO in Pest.

NIO Power Europe Plant is the first overseas plant of NIO and it will be spread over an area of 10,000 square meters. The plant will cover manufacturing and after-sales service of battery swapping stations, training for power operations in Europe, and the R&D of power products.

The company has revealed that this factory will boost the deployment and service efficiency of NIO Power in Europe.

NIO has also announced that following its entry into Norway in 2021, it will now be aiming for expansion in Germany, the Netherlands, Sweden, and Denmark in the second half of 2022 to offer its products and comprehensive services.

The NIO Power Europe Plant will further catalyse the establishment of NIO Power Swap stations in these countries, creating the groundwork for local battery swapping and charging services.

Expansion Spree of NIO

The business expansion of NIO is caused by the good balance sheet that the company maintains as revealed in the July 2022 sales figures. NIO delivered 10,052 vehicles last month, which is more than 26% increase over July 2021.

Recently, NIO forged a partnership with global energy conglomerate Shell for battery swapping stations business globally but the focus will primarily be on China and Europe. The Chinese automaker aims to operate 4,000 battery swapping stations worldwide about a quarter of the stations being outside China.