EV Billionaire William Li’s Nio Speeding Up Plans To Expand Via Norway

EV billionaire William Li is chasing growth overseas. His first step—entering the European market via Norway.

In early May, William Li strides onto a Shanghai stage in a navy T-shirt emblazoned with two words: Norway 2021. The founder of Nio greets his new team sitting in Oslo at the virtual event before launching into details about the Chinese electric car maker’s first move overseas. 

The Nordic country was chosen because it is the first country in the world where EVs have overtaken sales of traditionally powered vehicles—nearly 55% of all car sales in 2020, according to the Norwegian Road Federation. It will also serve as Nio’s springboard

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