NIO Announces Entry into Azerbaijan to Accelerate Global Expansion

November 15, 2024, Baku, Azerbaijan - NIO and its partner, Green Car, signed a strategic cooperation agreement at a forum in the Azerbaijan Pavilion of the 29th Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC COP29) in Baku, Azerbaijan. NIO announced that it would officially launch its business in the country to provide smart EV products and services for local users. The signing ceremony was attended by Zhao Yingmin, head of the Chinese delegation to COP29 and Vice Minister of China's Ministry of Ecology and Environment, Elnur Soltanov, CEO of COP29 and Deputy Minister of Energy of Azerbaijan, Umayra Tagiyeva, Deputy Minister of Ecology and Natural Resources of Azerbaijan, Narmin Jarchalova, COO of COP29, Lihong Qin, Co-Founder and President of NIO, and Rustam Ibrahimov, COO of Green Car.

According to the agreement, Green Car will serve as NIO’s national General Distributor in Azerbaijan, directly reaching local users. Under NIO's comprehensive guidelines, Green Car will start the local operations of products, services, and the community, and invest in and build NIO's local sales and service networks including charging and swapping facilities, service centers, and NIO Houses. At the same time, NIO will develop and authorize digital products for Green Car such as the NIO Azerbaijan website and mobile application to ensure a consistent global user experience.

NIO will officially start the delivery in Azerbaijan in Q2, 2025, providing whole-package services for users in the Caucasus.

Green Car ("Green Car" LLC), established in 2014, is a pioneering force in Azerbaijan's green technology sector, specializing in the promotion and integration of electric vehicles and sustainable transport solutions. Green Car's mission is to drive the transition to green transportation by offering innovative, eco-friendly vehicle options and supporting infrastructure that fosters a cleaner, more sustainable future.

Lihong Qin, Co-Founder and President of NIO, said,“Azerbaijan is making strides in green transition and sustainable development, and its promising new energy vehicle market is flourishing with opportunities. NIO desires to be a part of it, contributing to the popularity of new energy vehicles locally and accelerating the Company’s globalization. With rich experience and ample resources in the local market, our partner, Green Car, will facilitate our growth in Azerbaijan, and provide local users with smart EV products and services featuring innovative technology and experience excellence.”

Rustam Ibrahimov, COO of Green Car, said, "The global automotive industry is undergoing an exciting revolution. NIO, as a global smart EV company, is impressive in the innovation in core technologies and user experience. Green Car shares NIO's vision of sustainability, and we look forward to jointly promoting Azerbaijan and the Caucasus's transition to EVs."

On the same day, Lihong Qin, attended and delivered a speech at the forum themed "Blue Sky Coming: Shaping the Future of Smart EV" in the Azerbaijan Pavilion of COP29, introducing NIO's all-round innovation in technologies, products, services, and the community, and the Company's ESG initiatives. As a proud member of Green Car Park of COP29, NIO's EL8, ET7, and EL6 provide premium mobility services for heads of states and governments, as well as distinguished guests from around the world.

With international R&D footprints from day one, NIO entered into the EU market in 2021 as the initial step of its market globalization. By November 15, 2024, six models, namely NIO EL8 (ES8 in China), ET7, EL7 (ES7 in China), ET5, ET5T, and EL6 (ES6 in China), have been introduced to ten European countries—Norway, Germany, the Netherlands, Sweden, and Denmark. NIO has built 58 Power Swap Stations and integrated over 600,000 non-NIO chargers. At the same time, eight NIO Houses, 10 NIO Spaces, and 45 service centers have been opened. In October 2024, NIO announced its entry into the MENA region and that it would start comprehensive business operations in the UAE starting from the fourth quarter this year.

NIO's strategic partnership with Green Car further extends its global reach. Moving forward, the Company will push forward the development of and innovation in core technologies, serve users in more countries and regions, thereby contributing to global sustainability and safeguarding the blue sky shared by all.

About NIO

NIO is a global smart electric vehicle company founded in November 2014. Dedicated to shaping a sustainable and brighter future together by providing high-performance smart electric vehicles and exceptional user experiences, NIO is the first car company listed on the NYSE, HKEX and SGX. NIO currently has two major brands under its umbrella: NIO and ONVO.

Nine years into establishment, NIO is now one of the leading companies in the global premium smart electric vehicle market, committed to fostering its own research and development capabilities for core technologies. As of the end of September 2024, the company had filed for and obtained over 9,200 patents. Additionally, NIO has developed NIO Full Stack, a collection of 12 technology domains.

NIO has R&D and manufacturing facilities in Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, Wuhan, San Jose, Munich, Oxford, Berlin, Budapest, Singapore and Abu Dhabi. The company has also established sales and service networks in China, Norway, Germany, the Netherlands, Sweden, Denmark and the UAE.

NIO Inc. currently offers eight premium smart electric vehicle models under the NIO brand and recently launched its first model under the ONVO brand. As of October 31, 2024, NIO Inc. had delivered a total of 619,851 vehicles, leading the premium BEV segment priced above RMB 300,000.

Media Contact:

Emma Hai

emma.hai@nio.io