China-based electric vehicle manufacturer Nio has announced plans to open its first overseas factory in Budapest, Hungary, in September 2022. Located in Pest in the eastern part of the city, the new facility will manufacture power products including battery-swapping stations for the European market.
The company is also partnering with UK-based oil and gas giant Shell to build battery-swapping stations globally, starting with China and Europe. Nio plans to establish 4,000 battery-swapping stations worldwide, one-quarter of which will be located outside of China.
Founded in 2014, Nio is headquartered in Shanghai with manufacturing facilities in Hefei and Nanjing as well as a software R&D centre in Beijing. The company also operates a design centre in Munich, Germany, an office in Oslo, Norway, and R&D centres in San Jose, California, and Oxford in the UK.