Auto & Transportation

Hungarian Minister of Foreign Affairs and Foreign Economics Scijardo Peter and NIO European Vice President Zhang Hui jointly announced in Budapest, Hungary on the 29th that NIO will invest in the construction of its first overseas factory in Hungary, which will be put into operation in September .

According to reports, the project named NIO Energy Europe Factory is located in Biotor Baggy, Pest State, Hungary. It covers an area of about 10,000 square meters and is mainly used to produce battery swapping stations that provide battery replacement services for electric vehicles. It will become the European manufacturing center, service center and R&D center for NIO power-on products. Its main businesses include battery swap station manufacturing and after-sales service, NIO power-on business training in Europe, and research and development of power-on products.

Sjjardo said at a joint press conference held by the Hungarian Ministry of Foreign Affairs on the same day that automobile manufacturing is the pillar industry of the Hungarian economy, accounting for nearly one-third of the country's manufacturing output, so attracting as many people as possible related to electrification investment is crucial.

Zhang Hui said in an interview after the meeting that the decision to invest and build a factory in Hungary is of great significance to NIO's globalization. The construction and commissioning of the Hungarian plant will help NIO improve its market layout in Europe, improve service efficiency, and bring European users a better car experience.