Chinese electric vehicle maker NIO (9866) aims to sell thousands of its cars overseas this year, as part of a plan to expand abroad over the next two to three years, President Qin Lihong said on Wednesday.
The comments came after NIO reported its first-ever quarterly net profit and forecast it will break even in the full year of 2026.
While it expects the domestic passenger car market to experience a fall in overall sales, NIO wants to build a good reputation among overseas users, with top executives personally reviewing consumer complaints, Qin said.
However, the European market poses growing challenges as government EV incentives decline and electricity costs increase, according to the 11-year-old Chinese automaker.
Chinese automakers are looking to get tariff waivers from the European Commission in exchange for an agreed minimum price and a sales quota.
The European Union introduced tariffs against China-based EV makers in 2024, but recently launched a scheme where carmakers can negotiate tariff exemptions for individual electric models imported from China.
Reuters
