Nio, Inc. (NYSE:NIO), which announced an ambitious international expansion plan at its Nio Day event last weekend, is taking the right steps forward.
What Happened: Nio announced that it received the U.N. certification on cybersecurity management, which is a major global mandatory regulation with regards to cybersecurity. It is widely applicable in countries such as the EU, the U.K., Japan and South Korea.
Nio noted that it is the first Chinese company and among the first companies in the world to be certified as compliant with the regulation.
Since its commencement, it has been dedicated to safeguarding vehicle cybersecurity with the establishment of technology teams in China, the U.S. and Germany, and industry-leading R&D capabilities for security, according to the company.
Related Link: Nio Analyst Reiterates Bullish Stance And Hikes Revenue Estimates Following 'Nio Day 2021'
Why It's Important: Nio chose Norway, which ranks the first in EV adoption, as its first overseas market. The company has set up sales and service facilities in the country.
At the Nio Day event, founder and CEO William Li said the company is planning to bring its products and complete service system to Germany, the Netherlands, Sweden and Denmark by 2022, By 2025, the company will have a presence in over 25 countries, he said.
"The U.N. R155 cybersecurity certification is an integral assistance in Nio's globalization," according to the automaker.
Related Link: Will Nio's Newly-launched ET5 Pose A Threat To Tesla's Model 3?
