Automaker NIO is opening a plant in Pest, Hungary, marking the company's first outside its home of China. The plant will develop and manufacture power products, which we first hoped was something from a Marvel comic, but are actually things like battery-swap stations for the European market.
Expanding up and out. Amid expansion news, Nio reported 10,052 deliveries in July, up 26% year-over-year but down slightly from June's 13k. The deployment of battery swap stations across Europe will enable the company to expand into Germany, the Netherlands, Sweden, and Denmark in the second half of the year.
TL:DR — A high-ranking S. Korean-based auto park maker is pulling a divide and conquer, while SK Group, the 2nd largest individually controlled S. Korean conglomerate, invests in safe chargers for apartment buildings. Each move feels like an investment in being key players in the global shift toward electrification.