Readers of this blog will be aware that Norway has, per head of population, the highest ownership of electric vehicles in the world. It is probably Tesla's largest export market. So it was natural last year for Chinese manufacturer Nio to launch its assault on the European EV market from Norway. Their USP is the way that batteries are paid for and the speedy recharging facility that stems from it.
Nio’s BaaS model means that a customer pays less for the new car but signs up to a monthly subscription model that means they can simply swap batteries when their charge is nearing depletion.
However, in addition to the benefit of simply being able to swap out a depleted battery, Nio also claims that by splitting out a lower purchase price for the vehicle from the battery subscription, the company is nevertheless offering a lower running cost than a combustion engine equivalent.
Nio officially launched its flagship ES8 SUV in Norway back in September, with a starting price of NOK609,000 [(£52,074)] with the 75kWh standard-range battery, and NOK 679,000 [(£58,035)] with the 100kWh long-range battery, which boosts total range to 500-kilometres (WLTP).
By the end of 2022, Nio plans to have built 20 Power Swap stations across the country, covering Norway’s five largest cities and their main roads.
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