Starting today, Nio owners traveling to any Nio House, Nio Space, or Nio Hub in Europe will be able to use their credits in the Chinese version of the Nio App to redeem for locally available merchandise.
(Image credit: Nio)
Nio (NYSE: NIO) has begun allowing Chinese users to use their credits in the company's mobile app across borders as part of its globalization efforts.
Starting immediately, Nio owners traveling to any Nio House, Nio Space, or Nio Hub in Europe will be able to use their credits within the Chinese version of the Nio App to redeem for locally available meals, drinks, and Nio Life merchandise, the company announced today.
The number of Nio House, Nio Space, and Nio Hub in Europe is currently 12, according to Nio.
These stores are located in:
Norway: Kristiansand, Oslo, Trondheim, Stavanger, Bergen
Germany: Frankfurt, Dusseldorf, Berlin, Munich
Sweden: Stockholm, Gothenburg
When spending at these stores, every 1 credit on the Chinese version of the Nio App is the same as every 1 credit in Europe, according to Nio. In terms of currency exchange rates, 1 euro is currently roughly equal to RMB 8 yuan.
It's worth noting that Nio App users will have to pay different amounts of credits in different countries when purchasing these meals, drinks, and Nio Life items due to logistics, tariffs, VAT, and other factors, according to Nio.
Nio did not mention whether Nio App credits for European users can be used in China as well.
Unlike most companies that have only one credit system, Nio has two, which are independent of each other.
Of the two, one is called "Nio Credits" (蔚来积分) and the other is called "Nio Points" (蔚来值).
"Nio Credits" is the official translation we saw in the company's prospectus for US listing. We didn't find an official translation for "Nio Points," but the company uses "N" as its unit of measurement.
Each Nio Credit is equivalent to RMB 0.1 in China and can be used to make purchases at Nio Life. Nio Points, on the other hand, can't be used for purchases and are more like voting rights in the corporate structure.
The number of Nio Credits is displayed below the username in the Nio App, while the Nio Points are slightly lower down, and users need to click a button to go to the next page to see them.