NIO Inc.’s (NYSE: NIO) Norwegian foray appears on track, according to an update provided by the electric vehicle manufacturer.
What Happened: The first batch of Nio home charging piles and superchargers are being shipped to Norway, the company said on its WeChat account. The company expects to deliver them to Norwegian users in September.
The Nio supercharger, according to the company, has been customized to meet local Norwegian laws, regulations and needs. It uses a European standard charging gun design with a maximum power of 180kW and a maximum current of 250A.
The first batch of four swap stations will be also be completed and put into use this year, Nio added.
“As the world’s first power station export project, the NIO Swap Station has undergone technical adjustments based on the local climate environment and laws and regulations in Norway,” the company said.
The company also noted that its swap station, supercharged pile and home Pile have obtained the dual certification of TUV Rheinland EU Certificate and TUV MARK Certificate. This certification qualifies its vehicles for export to Europe.
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Why It’s Important: Nio announced its plans to enter the Norway market in early May. At that time, the company said it plans to bring Nio Power charging infrastructure into Norway, including 7 kilowatt-hour home chargers, 180 kWh superchargers and Nio’s unique power swapping stations. By the end of 2021, the company hopes to have four swap stations in and around the Oslo region.
The company had said then Nio Power Norway will become operational in September.
Norway is the only country where EV sales have outstripped the sales of traditional internal combustion vehicles. Data released by the Norwegian Road Federation showed that about 55% of new cars sold in 2020 were EVs.
NIO Price Action: Nio shares were falling by 5.11% to $47.72 at last check Wednesday.
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Photo: a Nio battery. Courtesy of the company.
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