Nio Inc (NYSE: NIO) has revealed its plans to expand into new markets, including Singapore, Uzbekistan, and Costa Rica in 2025 and 2026, as part of its global expansion strategy. The company will introduce models from its Nio, Onvo, and Firefly brands in these regions.
In Singapore, Nio will collaborate with Wearnes Automotive, a well-established automotive retailer with a history dating back to 1906. Together, they will launch Firefly, a premium small electric vehicle, in 2026. This move marks Nio’s first foray into producing a right-hand drive model.
Costa Rica will see Nio partnering with Horizontes Cielo Azul Movilidad, the largest EV distributor in the country. This venture will mark Nio’s entry into the Americas market. Meanwhile, in Uzbekistan, Nio will join forces with Abu Sahiy Motors, a prominent Uzbek group with a stronghold in logistics, real estate, and automotive sales and services.
The lineup of models to be introduced in these markets will include the Nio EL8 (ES8 in China), EL6 (ES6 in China), ET5, ET5 Touring (ET5T in China), Onvo L60, and Firefly. This expansion signifies a significant step for Nio as it aims to penetrate diverse global markets by collaborating with experienced partners possessing local expertise and extensive dealer networks.
Nio’s international expansion journey began in Norway in 2021, followed by its entry into the European market with the opening of the first Nio House in the region. Since then, Nio has launched several models in Europe, transitioning from a direct sales strategy to a distributor-based approach.
Recently, the Firefly brand made its debut in overseas markets with vehicle deliveries in Norway and the Netherlands. With the upcoming availability of the Onvo L60 mid-size SUV in international markets, Nio continues to expand its product portfolio globally.
In China, Onvo is gearing up to launch its second model, the L90, while the Nio main brand is preparing to unveil its third-generation ES8 SUV. These developments underscore Nio’s commitment to innovation and growth in the electric vehicle market.
As Nio embarks on its expansion into Singapore, Uzbekistan, and Costa Rica, the company is poised to strengthen its presence in key regions and cater to the growing demand for premium electric vehicles worldwide.
