NIO targets Tesla, VW in Norway, the runaway electric car leaders in the Nordic country, with ES8 SUV, ET7 luxury sedan

Shanghai-based NIO will initially sell the ES8 SUV in Norway from September followed by the ET7 luxury sedan next year

Electric car maker plans to have a presence in at least five European countries next year, founder and CEO William Li says

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William Li, founder and chief CEO of NIO, unveils the ET7 sedan at a launch event in Chengdu, Sichuan province, on January 9, 2021. Photo: Reuters

Published: 8:38pm, 6 May 2021Updated: 9:40pm, 6 May 2021

Chinese electric-car start-up NIO plans to take on rivals Tesla and Volkswagen in Norway, the world leader in terms of EV adoption and sales penetration, with its flagship models.

Shanghai-based NIO will initially sell the ES8 SUV with a driving range of 355km in the Nordic country from September followed by the ET7 luxury electric sedan, capable of doing 1,000km (620 miles) on a single charge, next year.

William Li Bin, NIO’s founder and CEO, said the EV maker aimed to have a presence in at least five European countries next year, as it pushed ahead with its ambition of becoming a global contender in an industry undergoing drastic transformation. He, however, did not name the target European markets.

“It is no easy job for a Chinese company to go global for the time being,” he said on Thursday. “We do not expect to succeed overnight. We are making our plans meticulously and we have the patience [to chase high sales volume].”

Norway is the world leader in terms of EV adoption. Last year, more than 54 per cent of overall new car sales in the country were battery-powered vehicles. Audi’s e-tron, Volkswagen’s ID.3 and Tesla’s Model 3 were among the best-selling EV models in Norway last year.

NIO did not reveal retail prices of the cars to be sold in Norway.