NIO signs an agreement in Hungary for its European Battery Swap Station – EV factory

Written by Claudio Afonso | [email protected] | LinkedIn | Twitter

Electric vehicle maker NIO on Friday signed an agreement with the Hungarian government to set up its 10,000 square meter factory in the country, the first outside China. The plant will serve as a “manufacturing, service and R&D center for the brand’s Power products and services in Europe, with the main activities being production and after-sales service for battery switch stations, training of NIO employees and R&D in energy applications,” NIO said.

The plant will be located in Biatorbágy and is expected to produce 240 battery swap stations at this facility per year, aiming to have 4,000 in operation worldwide by 2025, according to local media. NIO was represented by Vice President Europe Hui Zhang and NIO Communications Director Europe Florian Otto.

“Budapest-Shanghai online. Agreement finalized [with] NIO will set up its first European factory in Biatorbágy! The Chinese automaker’s HUF 5.5 billion investment will create hundreds of new jobs in the region, with a government subsidy of HUF 1.7 billion,” said Péter Szijjártó, Hungarian Minister of Foreign Affairs and Trade.

“The NIO Power Europe plant will play an important role in this with the construction of NIO Power Swap stations which will provide a solid foundation for innovative battery swapping and charging services”, NIO said in a press release.

Efforts are also being made to further accelerate the deployment of NIO Power in Europe and achieve even higher efficiency for the best ownership experience for European NIO users, the company added.

The project will cost around HUF 5.5 billion and will receive a government grant of HUF 1.7 billion to help create hundreds of new jobs. The hall could also be expanded with a research and development and training center.

On July 21, NIO posted two job openings on LinkedIn for its procurement team in Hungary, namely a Senior Buyer and an Indirect Spend Buyer. Both will be responsible for leading “procurement activities primarily in the areas of factory-related services as well as production materials.”

As originally reported by EV on April 15, NIO opened a vacancy for a Plant Manager where he stated, “With NIO Power (Power Swap Station / Charging Pile) products for the European market, we are looking for a Plant Manager. ‘European factory to work with the NIO China team to establish a factory in the EU’.

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Earlier in the day, the company’s senior vice president, Zeng Shuxiang, revealed that NIO had rolled out the first sample C electric drive system for the upcoming ET5 model at NEO Park. NIO’s vice president also said that the electric vehicle maker “is one of the very few companies in the world with a self-developed and manufactured complete electric drive system and the only automaker with independent advanced R&D capabilities”.

At an event with NIO users held in Fuzhou, China, CEO William Li said the company is making progress in the NIO phone business. According to blogger 德卤爱开车, Li said that the company aims to launch a new phone every year like Apple while assuming that the biggest challenge is to create an easy-to-use mobile phone.

According to multiple NPORT-P forms filed on Wednesday, Blackrock – the world’s largest investment manager – has been adding NIO shares over the past few weeks/months via iShares ETFs.

Written by Claudio Afonso | [email protected] | LinkedIn | Twitter

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