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Electric cars in China

Chinese EV maker Nio to expand into five new European countries

Startup looks to strengthen brand with overseas foray

A Nio electric car is displayed at the Auto Shanghai car show in April. The Chinese EV startup aims to expand overseas by moving into rapidly growing European markets.   © Reuters

SHANGHAI -- Nio, a Chinese electric vehicle startup, is planning to charge into five new European countries next year, part of a brand development strategy aimed at eco-conscious drivers. Nio recently opened a showroom in Norway dubbed Nio House as the first step in its expansion drive in the region.

Nio founder and CEO Li Bin, also known as William Li, shared the company's ambitions for Europe in an earnings call on Nov. 10 to announce Nio's July to September results. In Norway, one in every four customers who test-drove a Nio bought the car, a higher proportion than in China, according to Li. Nio will be " in at least five European markets [in addition to Norway] by the end of 2022," he said.

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