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China’s Nio to Open EV Battery Products Plant in Hungary

Nio said it will rev up the construction of battery swapping stations in Europe with a view to expanding car sales in Germany, the Netherlands, Sweden and Denmark.


CEO Wiliam Li at Nio show
Nio is looking to open its first foreign factory next month in Hungary, to start making battery-swapping stations. This image shows Nio CEO Will Li give a presentation in May 2021 on the group's first sedan, the ET7. Photo: Reuters.

 

China’s electric carmaker Nio said it will open a plant in Hungary in September to make power products for the European market.

Its first overseas factory will open in Pest, in the eastern part of the capital Budapest, it said in a statement late on Friday.

The plant will create and manufacture power products such as battery-swapping stations to serve electric vehicles across the continent, Nio said.

Nio said it would rev up construction of battery swapping stations in Europe with a view to expanding car sales in countries including Germany, the Netherlands, Sweden and Denmark in the second half.

The company is also partnering with oil giant Shell to build battery swapping stations globally, starting with China and Europe this year, according to a Nio statement on Monday. Shell will open its charging network in Europe to Nio users, it added.

Competitive Advantage

Nio started shipping its ES8s to Norway in 2021 and has opened a showroom in Oslo.

The company has been touting its after-sales services with city-centre showrooms and battery service networks as important competitive advantages.

Nio has said it planned to establish 4,000 battery swapping stations worldwide, a quarter of them outside China.

More Chinese electric vehicle (EV) startups and battery makers are increasing their presence in global markets where EV and energy storage demand is taking off.

Chinese battery maker Gotion High Tech said in June it planned to locate a third of its production capacity outside China by 2025 with construction of its first overseas battery plant, in Gottingen, Germany, to begin by the end of the year.

 

  • Reuters with additional editing by Jim Pollard

 

 

 

ALSO SEE:

Korea’s LG Energy Solution Seeks Factory Sites Outside China

 

China’s Nio to Challenge Volkswagen, Toyota With Mass-Market Brand

 

Tesla, Nio cement China’s importance to global EV industry

 

 

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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