NIO Inc. (NYSE:NIO) shares are trading higher on Friday.
The EV manufacturer has made a significant move in its globalization strategy by opening its first NIO House in the Middle East and North Africa (MENA) region, reported CnEV Post. Located on Al Maryah Island in Abu Dhabi, the new showroom spans 970 square meters and showcases NIO’s expansion into the UAE.
The facility, which opened on November 28, is designed with a unique “Desert Modernity” theme, reflecting the region’s aesthetic and contemporary development, the report read.
NIO House Abu Dhabi serves as a flagship showroom, offering visitors a space to view Nio’s electric vehicles (EVs) and experience the brand’s customer-focused environment.
Like other NIO Houses in China, the Abu Dhabi location features a vehicle display area, but it also includes a lounge, event and meeting spaces, and a café for NIO owners and visitors to enjoy.
William Li, NIO’s founder, chairman, and CEO, emphasized that this new addition is a landmark for the company, marking an important step in the company’s global outreach, CnEV Post added.
This expansion in Abu Dhabi is set to strengthen NIO’s presence in the rapidly growing EV market in the Middle East.
Recently, NIO guided deliveries of 72,000–75,000 units for the fourth quarter, or a 43.9% – 49.9% year-over-year increase.
The company expects fourth-quarter revenue of $2.804 billion – $2.904 billion, representing 15.0% – 19.2% year-over-year growth.
Price Action: NIO shares are trading higher by 2.94% to $4.509 at last check Friday.
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