- Nio has announced its entry into four new markets: Portugal, Greece, Cyprus, and Bulgaria. Additionally, it will transition to a distributor-based sales model in Denmark.
- Nio will launch a total of five models in these markets, including both Nio's main brand and the Firefly sub-brand.
Nio (NYSE: NIO) has announced its expansion into more European automotive markets, advancing its international growth through a new distributor-based sales model.
The Chinese electric vehicle (EV) maker announced today that it will further expand its European operations in 2025 and 2026, adding Portugal, Greece, Cyprus, Bulgaria, and Denmark to its market footprint.
Nio will launch five models in these markets, including the ES6 and ES8 SUVs (sport utility vehicles), the ET5 sedan, the ET5T wagon, under the Nio main brand and the first model under the Firefly sub-brand, named after the sub-brand itself.
The ES6 has been renamed EL6 in Europe, the ES8 is EL8, and the ET5T is ET5 Touring.
Notably, Portugal, Greece, Cyprus, and Bulgaria are new markets for Nio, while Denmark is a market it already has a presence.
The company began delivering the ET7 electric sedan in Denmark in November 2022, marking its first delivery there, with a direct sales model at the time.
The company will transition Denmark's sales model to a distributor-based approach, aligning with its latest strategy in multiple other European markets.
Nio has partnered with Nic Christiansen Group, one of the leading mobility service providers in the Nordic region, to appoint it as the national distributor for its brands in Denmark, with deliveries set to begin in 2025, according to a statement released by the company today.
Nic Christiansen, which has been deeply rooted in the Danish market for decades, will help Nio create a user experience tailored to the local market, it said.
In Portugal, Nio will collaborate with the JAP Group starting in 2025. The JAP Group is one of the leading mobility service providers in Southwest Europe and has over 120 years of professional experience in the automotive industry.
It has also partnered with Motodynamics Group to enter the Greek market in 2025, followed by Cyprus and Bulgaria in 2026.
The Greek company was founded in 1969 and has been active in international markets since the 1990s.
Last week, Motodynamics announced the signing of a strategic cooperation agreement with Nio's Dutch subsidiary, Nio Nextev Europe Holding BV, to distribute Nio and Firefly brand vehicles and accessories in Greece, Cyprus, and Bulgaria.
The new market expansion approach reflects Nio's "user enterprise" philosophy, aimed at continuously delivering services and experiences that exceed European users' expectations, it said.
On June 3, Nio announced partnerships with local distributors to launch its vehicles in Austria, Belgium, the Czech Republic, Hungary, Luxembourg, Poland, and Romania in 2025 and 2026.
Nio entered the Norwegian market in late September 2021, marking its first overseas expansion. It subsequently entered the German, Dutch, Swedish, and Danish markets through a direct sales model.
Since last year, it has begun to adjust its strategy, aiming to rely more on distributors' sales networks to expand into additional overseas markets.
