NIO ET7 deliveries in Europe began last October, and EL7 deliveries there began at the end of January. | NIO US | NIO HK | NIO SG
(Image credit: NIO App)
NIO (NYSE: NIO) began ET5 deliveries in Europe on March 31, the day before it opened its second NIO House in Germany.
The company saw the first deliveries of the electric sedan in Germany, Sweden and the Netherlands, according to the information posted on the Chinese and European versions of the NIO App.
NIO co-founder and president Qin Lihong was in Germany to witness the first ET5 deliveries there.
No information has been released about ET5 delivery figures in Europe. The company is expected to announce its deliveries of all vehicles in March later today.
NIO launched the ET7, ET5 and the EL7, known in China as the ES7, in Europe last October. ET7 deliveries began in Europe last October, and EL7 deliveries began at the end of January.
NIO initially only allowed European consumers to lease vehicles through NIO Subscription, with purchase options available starting in late November.
These products are made available for order gradually in Norway, Germany, the Netherlands, Denmark and Sweden through the NIO Subscription, lease program and direct sales to customers, NIO said on November 1 last year while announcing delivery figures for October.
The announced delivery volume represents vehicle deliveries through direct sales to users as well as to the leasing program partner in Europe in accordance with the revenue recognition policy of the company's vehicle sales, NIO said at the time.
The vehicles under NIO Subscription in Europe are recognized as assets on the company's balance sheet, but are not counted in the announced deliveries, according to the company.
The day before deliveries of ET5s began in Europe, NIO opened a new NIO House in Frankfurt, its second in Germany.