Nio House in Oslo is less of a retailer and more of a brand intention statement. (Photo by Zhu … [+] Sheng / Xinhua via Getty Images)
Last fall, a new pretender arrived at the worldwide advanced electric vehicle market. Nine – alias of ‘Chinese TeslaTSLA
‘- opened a bold retail showroom like no other, aiming to accelerate growth in Europe and the US
And the nine did not choose an out-of-town retailer to announce their arrival, instead landing in the main shopping district of Oslo with a 20,000 sq ft store that includes its EVs, a café, merchandise and a lifestyle environment in a country where about three-quarters of new car sales are electric.
That is worth repeating. Three quarters of Norway’s new car sales are EVs.
But while Nio’s first foreign market is Norway, it will not be his last. This year, his declared plan is to open ‘Nine Houses’ in Rotterdam in the Netherlands, Germany, Sweden and the United Kingdom, to join almost 60 in China. By 2025, the Nio counts on a presence in 25 markets, including the US among them.
Nio set out to compete with Lexus in the top German luxury brands and the first statement of intent was to build a $ 3 million supercar – the Nio ES9 – to set a poor world record.
There is one on the show as a scene stealer in the showroom of Nio House in Oslo.
Next came the development of the Nio ES8 SUV and so, in Oslo, shoppers can see a supercar, two SUVs and a concept car with a single side door and rear seats facing an autonomous driving future at an angle.
A concept car and supercar are sitting next to Nio’s SUVs at Nio House, Oslo. (Photo by Zhu Sheng / Xinhua … [+] via Getty Images)
Nio Battery As A Service
In addition, in early July, Nio announced the delivery of 12,961 vehicles in June 2022, up 60. This may interest you : Mild travel restrictions in China due to Covid are still the toughest in the world.3% year-on-year, while a month earlier the ES7 five-seater SUV was also launched.
The striking difference between Nio and its competitors is what it calls “battery as a service“. Nio offers not only a chain of fast charging stations, such as Tesla, plus a fleet of mobile and roadside charging units, but also a battery replacement service that is completed in less than five minutes, including entry and exit from the station.
By the end of this year, the Chinese automaker plans to install 20 power exchange stations in Norway’s five largest cities and along the country’s main roads. The first ones are due to open and run this October.
In other words, drivers can leave a charging station with a full battery and less time than it takes to fill a conventional car with gas.
And Nio House Oslo is clearly not a retailer, but rather, says the company, a community center. Browsers and shoppers will find a library, barista-staffed coffee shop, children’s play area, meeting rooms, workplaces and even a ping-pong table.
Nio App And Retail Store
Consciously along Karl Johans Gate, Oslo’s busy shopping street, it’s just a stone’s away from the city’s premium shopping center, with an expanded international fashion brand district and a revitalized stone & amp; Power Department Buttek. To see also : China launches high-tech aircraft carrier at a naval milestone.
Nio has also launched an app that offers very generous loyalty points plus partnerships with a whole host of other brands. Users do not need to own a Nio and just downloading the app and setting up a profile will be enough points to get a free coffee at the Nio Café.
Users can also spend points on merchandise, plus items like wine and gifts, with new offers on a regular basis, including limited series merchandise and nine-sponsored events. A referral can be worth up to $ 150, while also logging in regularly earns more free coffee.
Nio, however, was not without his problems. Shares rose to about $ 61 in early 2021, but are currently moving closer to $ 21, not helped by a recent crash in a Chinese facility with one of their cars that killed two people, or the Audi his legal action against Nio over the similarity of two of his vehicle names to his own EVs.
Nio disputes this action but bad news has a persistent way of sticking to the Chinese carmaker and analysts are ambivalent about prospects for stock price recovery at any given moment.
For the moment, this does not seem to detract from the Norwegian locals and international tourists who visit Oslo’s retail district.
Nio House was opened to make a brand statement and a long time ago a whole host of new countries would get their introduction to Tesla from the East.
Who is NIO owned by?
1 in Norway in terms of car sales, but only with 721 units, and BMW was number 2 with 660 units, according to data monitored by EU-EVs. On the same subject : In China, science-based approaches to the virus are being sidelined. NIO sold 82 units in Norway in April, while its local counterpart XPeng Motors (NYSE: XPEV, HKG: 9868) sold 141 and BYD (OTCMKTS: BYDDY, HKG: 1211) sold 117, according to the data.
NIO is not owned by hedge funds. The CEO of the company William Li is the largest shareholder with 10% of the shares. Meanwhile, the second and third largest shareholders hold 8.5% and 5.7% of the outstanding shares, respectively.
Is NIO owned by Chinese government?
Does Elon Musk have NIO shares? October 10 – The largest investor in Tesla Inc. according to Elon Musk, it took an 11.4 percent stake in a Chinese company to become a competitor of electric vehicles.
What company owns NIO?
The NIO put its Chinese business into a new entity and eventually owed about 76% of the legal entity. Strategic investors – including local government – end up with around 24%. Strategic investors invest some money. Fast forward to February 2021, and the NIO seems to be buying back some of the 24%.
How much of NIO is owned by China?
Top 10 Owners of NIO Inc The Vanguard Group, Inc. SSgA Funds Management, Inc. BlackRock Advisors (UK) Ltd.
Where are XPeng cars sold?
So the Nasdaq-listed NIO turned to China’s latest class of venture capitalists: Communist officials. The municipal government of Hefei, a city in eastern China, has pledged 5 billion yuan (US $ 787 million) to acquire a 17 percent stake in NIO’s core business.
XPeng, one of the fastest growing Chinese EV startups, announced that in March its electric car sales rose by 202% year over year to 15,414. This is not only massive expansion, but also a confirmation that a lower volume in February (6,225) was only temporary. The vast majority of XPeng sales are in China.
Are XPeng cars coming to the UK?
Are XPeng cars sold in the US? It’s coming to America, Some Day. Chinese electric car maker XPeng had big news for investors late Thursday.
Where are XPeng cars made?
Chinese brand XPENG has launched a Tesla Model 3 rival saloon in Europe, and it is set to arrive in the UK within three years at a cost of around £ 30,000.
Is XPeng selling cars in Europe?
XPeng has two factories, one in Zhaoqing and the other in Guangzhou. The Zhaoqing factory has an annual production capacity of 100,000 vehicles. XPeng has only sold 50,000 vehicles since its initial offering. The new Guangzhou factories construction started in September 2020.
Who is XPeng backed by?
Chinese Tesla competitor Xpeng launches its mass-market P5 electric car in Europe. Xpeng has started taking pre-orders for its mass-market P5 electric sedan in Denmark, the Netherlands, Norway and Sweden as they continue their aggressive European expansion.
In July 2020, XPeng raised $ 500 million from a group of investors including Aspex, Coatue, Hillhouse Capital and Sequoia Capital China. In August 2020, XPeng raised an additional $ 400 million from a group of investors including Alibaba, Qatar Investment Authority and Abu Dhabi’s sovereign wealth fund Mubadala.
Who is backing XPeng?
Is XPeng supported by the Chinese government? Xpeng Motors has received $ 500 million ($ 76.9 million) in financing from Guangdong Yuecai Investment Holdings Co., the Chinese province’s investment arm. Xpeng is headquartered in Guangzhou, the capital of Guangdong Province. The region has put a focus on new energy cars and autonomous driving.
Is XPeng listed in China?
Alibaba-backed Xpeng announced on Tuesday that it had secured a credit line of 12.8 billion yuan ($ 1.98 billion) from major Chinese financial institutions – including three of the “big five” state banks: Bank of China, China Construction Bank and Agricultural Bank of China.
Who invested in XPeng?
Xpeng’s Hong Kong shares are included in a trading link to mainland China, known as Shenzhen-Hong Kong Stock Connect. The move will allow investors in mainland China easier access to electric car start-up stocks, potentially allowing the company to expand its investor base.
Does Warren Buffett Own NIO stock?
XPeng said on Thursday that it had made an investment in a new $ 200 million fund along with high-profile venture capitalists such as Sequoia China and GGV Capital. Rockets Capital focuses on “Venture and growth stage investments in the Smart EV industry value chain, clean energy, and frontier technology areas.”
Warren Buffett has no NIO (NYSE: NIO) stock. However, he owns shares in one of the company’s closest competitors, BYD so clearly believes that electric vehicles (EVs) have a strong future.
What company owns NIO?
Which Chinese car company does Warren Buffett own? BYD, the Warren Buffett-backed Chinese electric car maker, had a bumper month in the world’s largest car market, despite strict Covid lockdowns that disrupted production and sales for many of its major rivals.
What stocks does Warren Buffett Own?
Top 10 Owners of NIO Inc The Vanguard Group, Inc. SSgA Funds Management, Inc. BlackRock Advisors (UK) Ltd.
- Top stocks in Buffett’s portfolio
- Apple (AAPL) – $ 159.1 Billion.
- Bank of America (BAC) – $ 42.6 Billion.
- American Express (AXP) – $ 28.4 Billion.
