- Nio has signed a distributor deal with Greek company Motodynamics to sell Nio and Firefly brand vehicles in Greece, Cyprus, and Bulgaria.
- Last week, Nio announced it had reached distributor partnership agreements to enter seven new European markets.
Nio (NYSE: NIO) has entered into a new distributor partnership to expand its footprint in Europe as the Chinese electric vehicle (EV) maker advances its efforts in international markets.
Greek company Motodynamics has signed a strategic partnership agreement with Nio's Dutch subsidiary Nio Nextev Europe Holding BV, according to an announcement published today on the Greek website Business Voice.
Motodynamics will distribute Nio and Firefly brand vehicles and accessories in Greece, Cyprus, and Bulgaria, according to the announcement.
The announcement did not provide further details about the partnership. Nio has not yet issued an announcement regarding the partnership.
The partnership represents Nio's latest effort to expand in Europe. On June 3, Nio announced it had reached distributor partnership agreements to enter seven new European markets.
Nio planned to launch Nio and Firefly brand vehicles in Austria, Belgium, the Czech Republic, Hungary, Luxembourg, Poland, and Romania in 2025 and 2026, it said last week.
The company plans to launch a total of five models across these markets, including the Nio ES6, Nio ES8, Nio ET5, Nio ET5 Touring, and Firefly's current sole model, the Firefly EV. ES6 has been renamed EL6 in Europe, and ES8 has been renamed EL8.
In Belgium and Luxembourg, Nio would collaborate with mobility services group Hedin Mobility Group.
In Central and Eastern Europe, it would partner with another mobility services group, AutoWallis, to first cover the Austrian and Hungarian markets in 2025, with plans to begin deliveries in the Czech Republic, Poland, and Romania in 2026.
In Europe, some Nio main brand vehicles are currently available in Norway, Germany, the Netherlands, Sweden, and Denmark.
The company is accelerating its expansion in overseas markets through partnerships with local distributors and plans to bring the more affordable Firefly model to overseas markets.
The long-term testing of Firefly in Europe began on June 9, with two product managers driving from Berlin, Germany, through seven countries: Germany, Denmark, the Netherlands, France, Spain, Italy, and Austria, the Nio sub-brand said on June 10.
The test would last 15 days and cover over 5,500 kilometers, according to the announcement.
