NIO officially entered the European electric vehicle market earlier this month. NIO brought its three electric vehicle portfolios namely ET7, EL7 and ET5 to European consumers at the NIO Berlin event.
NIO to the European market brought a business model of leasing rather than buying sparking some controversy in the old continent.
After communicating with local users over the past two weeks, NIO confirmed that they will be offering a buy option for their electric vehicles.
Consumers in Europe will have purchase options for the NIO ET7, EL7 and ET5 starting on November 21, 2022 with deliveries starting in 2023, the company said on its app, the company said via its app.
“We have much to accomplish and will provide more details (on prices & services, battery-as-a-service and user rights) on that day,” NIO said.
NIO introduced the ET7, EL7 and ET5 to European consumers at the NIO Berlin launch event on October 7. EL7 is known as ES7 in China. The use of the name EL7 is due to a potential lawsuit from Audi which has a model with a similar name.
When it first launched in Europe, NIO offered a rental service instead of buying for their electric vehicles in Germany, the Netherlands, Denmark and Sweden.
The move by NIO to come with a lease only was met with much skepticism. NIO CEO William Li said the company had underestimated the enthusiasm of many users to buy NIO-made electric vehicles.
Following the NIO Berlin event, the company received feedback from users by offering face-to-face online and live offline meetings in Germany, the Netherlands, Sweden and Denmark, many of whom wanted to buy NIO vehicles, the company said today.
NIO officially enters electric vehicle market in Europe with subscription business model
