NIO announced today that it will hold its overseas market debut in Norway on May 6th, Beijing time, at 4 p.m. Both China and Norway will simultaneously broadcast NIO’s strategic release in Norway. Marius Haylar, who used to work for Jaguar, will be in charge of NIO’s business in Norway.
Although Norway has a small land area, it is rich in hydroelectric resources. The electricity prices are not much different from China, but the per capita GDP is eight times that of China. Although Norway produces oil, it is mainly used for export and is about twice as expensive as China. All of these factors have contributed to the popularization of electric vehicles in Norway. The Norwegian government’s preferential policies for electric vehicles are also considerable. In addition to no import or sales tax, it also waives up to 25% value-added tax and offers discounts on road tolls.
In summary, Norway is indeed suitable as a stepping stone for domestic brands to enter Europe one by one, and it has significant strategic significance to establish a foothold in Norway. The first NIO House in Norway will be located on the busiest avenue leading to the palace in downtown Oslo. Coincidentally, not far away around the corner is the showroom of XPeng.
As NIO opens its overseas strategy, can its business model run in Scandinavia where labor costs are high? Or, can NIO replicate its current domestic user system and gain supporters overseas? Let’s wait and see.
Source: NIO
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