China's Nio to make power products for Europe at its first overseas plant

SHANGHAI – Chinese language electrical automotive maker Nio plans to open its first abroad plant in September to make energy merchandise for the European market because it accelerates enlargement overseas.

The plant, in Pest, Hungary, will develop and manufacture energy merchandise corresponding to battery-swapping stations to serve European customers, Nio stated in a press release late on Friday.

Nio will pace up development of battery swapping stations in Europe with a view to increasing gross sales of its automobiles in international locations together with Germany, the Netherlands, Sweden and Denmark within the second half of this yr.

Nio began delivery its ES8s to Norway in 2021 and has opened a showroom in Oslo.

The corporate has been touting its after-sales providers with city-centre showrooms and battery service networks as vital aggressive benefits.

Nio has stated it deliberate to determine 4,000 battery swapping stations worldwide, 1 / 4 of them outdoors China.

Extra Chinese language electrical automobile (EV) startups and battery makers are growing their presence in international markets the place EV and power storage demand is taking off.

Chinese language battery maker Gotion Excessive Tech Co stated in June it deliberate to find a 3rd of its manufacturing capability outdoors China by 2025 with development of its first abroad battery plant, in Gottingen, Germany, to start by the tip of the yr.

(This story refiles to right error in ‘yr’ in paragraph 3)

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