William Li said that Nio plans to continue expanding in Europe despite tariff uncertainties in the European Union, and that many of the complaints raised by the EU do not make sense.
Nio (NYSE: NIO) is determined to keep expanding in the European market despite uncertainties including potential higher tariffs.
William Li, the founder, chairman, and CEO of the Chinese electric vehicle (EV) maker, said on Thursday that Nio plans to continue its European expansion despite tariff uncertainties in the European Union, and that many complaints made by the EU do not make sense, according to a Reuters report today.
“Electric vehicles are very important for positive development of the environment, they should never be used as a political target,” Li told reporters as Nio opened its first showroom in Amsterdam, according to the report.
The brief report did not provide anything more. Li and Nio co-founder and president Qin Lihong are currently in Europe to witness the opening of the new Nio House in Amsterdam.
Nio is currently targeting only Europe in its efforts to expand overseas, with vehicles already available in several countries. It aims to move its entire service system, including battery swap stations, over there.
The company built the Nio Power Europe Plant in Hungary in 2022, its first overseas plant to produce battery swap stations. The plant also serves as a manufacturing center, R&D center and service center for Nio's energy products in Europe.
As of today, Nio has 43 battery swap stations in Europe, 15 of which are located in Germany, data monitored by CnEVPost show. The company has 2,420 such stations in China.
On April 8, Nio opened a smart driving technology center in Germany, its first outside of China.
In Europe, the uncertainties faced by Chinese automakers is increasing. On October 4, 2023, the European Commission officially launched an anti-subsidy investigation into electric vehicles (EVs) from China, making additional tariffs a threat.
Despite the challenges it faces in international markets, Nio will stick to its strategy of serving global customers, Li said in a group interview with media, including CnEVPost, on May 16, the day after the launch of the company's Onvo sub-brand.
Li believes that in Europe, when vehicle sales reach a certain scale, the eventual model will move toward local production, though did not disclose what the threshold for that scale would be.
Nio's original intent to expand overseas remains the same, but the approach will change, such as seeking to work with more local partners, Li said at the time.
Nio opens smart driving tech center in Germany, its 1st outside of China
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