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    Chinese EV startup Nio’s journey to the West – TechCrunch

    Nio, a NYSE-listed Chinese electric vehicle startup, plans to enter at least six European markets by 2022.

    The company shared its ambitions for Europe in this week’s earnings announcement.Nio has already accepted orders for electric SUVs and is shipping small batches In Norway, The first stop outside of China. It has not been specified which of the five countries will be in the next year.

    Young automakers are challenging giants like Tesla and coveting parts of the luxury car market. I wasn’t convinced that a 7-year-old startup could pull customers away from Mercedes-Benz and BMW. But recently, a devout friend of the German car paid about $ 70,000 for a Nio sports sedan.

    What fascinates him is not the sophisticated design of the car or the 600km range on the market.It’s an experience Around it I own Nio.

    When his wife goes shopping, my friend spends time with his daughter at one of Nio’s owners’ clubs in a luxurious mall in a wealthy city in China. He showed me the Nio app. The app has data about the status of your car and you can talk to a human assistant in real time. The app also has a news feature, an e-commerce store and a user forum. “I can’t believe I bought a lot from the store,” he says scrolling through the posts of other owners. Nio has created an all-in-one “super app” that Chinese users are accustomed to, thanks to Tencent and Alibaba.

    Today, Nio exports its user experience to Europe, home of some of the world’s most respected automakers.

    Indeed, Norway is a small market with a population of 5 million. Nio has a long way to go before it can prove its potential in larger markets such as Germany and the United Kingdom. Therefore, its success depends on the ability to delegate true power to the country’s managers.It’s up to the founder William Lee to decide how much control to give Alexander Schwartz, Nio’s first European CEO.

    Orders in Norway were “above expectations,” and “a quarter” of customers who tried the car placed orders, Nio said on the phone this week.

    The company is proposing a “battery as a service” model that allows people to buy a car without a battery and later pay for a BaaS subscription. However, this vision requires the establishment of charging networks throughout the new country. This is by no means a small thing in the COVID era.

    Feedback from early customers, at least in Norway, looks positive. “Everyone seems to be very excited about the battery replacement station and the battery as a service business model,” the company said. Second quarter revenue..

    As of June, Nio had more than 40 staff in Norway. In Oslo MUJI-style customer club Recently opened. We already have a design center in Munich, an engineering team in the UK and an autonomous driving team in San Jose.

    Screen Shot 2021 11 04 at 5.22.34 PM

    Nio’s customer club “Nio House” in Oslo.Photo: Nio

    According to a recent report, Xpeng, Nio’s archive in China, has not yet expanded from China, but plans to expand. Analyst call.. Starting in 2023, Xpeng will launch “at least two or three new cars each year” to support its flagship driver assistance system. “We aim to make these new models of the future, including hardware, software and services, available simultaneously in the Chinese and international markets.”

    It’s an exciting and challenging time for a new Chinese EV maker, flooded with investor money and advanced technology. But as a Chinese company, they are dealing with an increasingly hostile global environment. Also, as algorithms play a greater role in vehicle steering, you will be faced with a series of questions about how to protect user safety and data privacy.

    Chinese EV startup Nio’s journey to the West – TechCrunch Source link Chinese EV startup Nio’s journey to the West – TechCrunch

    The post Chinese EV startup Nio’s journey to the West – TechCrunch appeared first on California News Times.

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