Nio (NYSE:NIO) announced on Monday that it is planning further expansion. The Chinese electric vehicle maker plans to enter Singapore, Uzbekistan, and Costa Rica in 2025 and 2026 to grow its global footprint further.
In Singapore, Nio (NYSE:NIO) will partner with Wearnes Automotive, a leading luxury automotive retailer in the Asia-Pacific region. Starting in 2026, the two parties will introduce its small, smart high-end EV, Firefly in Singapore, marking the launch of Nio’s (NIO) first-ever right-hand drive model.
In Costa Rica, Nio (NIO) will partner with Horizontes Cielo Azul Movilidad, the country’s largest electric vehicle distributor. Horizontes Cielo Azul Movilidad was noted to have a proven track record of building Chinese automotive brands to achieve market leaders in Costa Rica. Notably, the partnership marks Nio’s (NIO) first venture into the Americas.
In Uzbekistan, Nio (NIO) will partner with Abu Sahiy Motors, a leading local group with strong market foundations, a broad presence across logistics, real estate, and automotive sales and services, and a forward-looking vision of the industry. The company said the deal marks its first step into the Central Asian automotive market.
The initial offering in the new markets will be representative models from the Nio, ONVO, and Firefly brands.
“To accelerate our entry into diverse global markets, NIO is partnering with experienced players who have deep local expertise and extensive distributor networks. They will help us introduce our high-quality smart electric vehicles to new markets more efficiently,” stated Nio Executive Chris Chen.
Shares of Nio (NIO) rose 1.9% in premarket trading on Monday after shooting up 8.1% on Friday.