NIO officially entered the European market by bringing three electric vehicles at once. However, the main concern is how the business model they run.
NIO, which only comes with a rental model, has caused a lot of controversy, given the unusual business model for the European market.
After much discussion, William Li, CEO of NIO admitted that the company had underestimated the enthusiasm of potential customers to buy NIO vehicles and said it was open to the buy-no-subscription option.
“In the past two days, we have received lots of feedback from our users, mentioning they would like to have the buy option. I have to admit that we have underestimated many users’ enthusiasm for buying NIO cars,” Li wrote. European version of NIO.
Previously, NIO planned that the four countries that would become NIO’s initial markets in Europe would focus on the subscription business model. NIO puts forward the aspect of flexibility as the reason for choosing a subscription business model.
NIO is open to a call option and will further prepare for it, said William Li.
From now on, general managers in four European countries will initiate online and offline communication with local consumers to introduce NIO subscription services in more detail and listen to further feedback, Li said.
In June, NIO launched a bidirectional EV charger and it was initially only available with a rental option. However, after receiving protests from its customers, NIO finally decided to add a buy option for its bidirectional EV charger.
NIO officially enters electric vehicle market in Europe with subscription business model
