Nio Delivers 500th Vehicle In Norway A Year Into Launch

Nio, Inc.'s NIO sales momentum in Norway is picking up pace, going by a key milestone shared by the company.

What Happened: Shanghai-based Nio has delivered its 500th vehicle in Norway, the CnEVPost reported, citing a post by the company on its Norwegian app. The vehicle, an ES8 Signature Edition, was reportedly handed over to a customer by Marius Hayler, General Manager of Nio, Norway and Denmark.

"This is an important milestone for NIO Norway and a visible proof of the warm reception NIO has received in Norway," the company reportedly said in the post in local language.

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Why It's Important: Nio officially commenced operations in Norway, its first overseas stop, in May 2021.

The company currently sells its ES8 SUV in the country and expects to add the ET7 sedan to its Norwegian lineup later this year. The sedan was launched in China in late March.

Following a successful foray into Norway, a country known for its high electrification rate, Nio plans to set foot in four more European countries, namely Denmark, Germany, Netherlands and Sweden.

 Price Action: Nio closed Friday's session 9.24% higher at $14.31, according to Benzinga Pro data.

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