August 18 — NIO announced today through its official Weibo account that the Chinese electric vehicle manufacturer will expand its global footprint by entering three new markets — Singapore, Uzbekistan, and Costa Rica — between 2025 and 2026.

Strategic Partnerships Across Three Continents

In Singapore, NIO will partner with Wearnes Automotive, a leading premium automotive group in the Asia-Pacific region, to launch its first-ever right-hand-drive Firefly model in 2026.

For Costa Rica, NIO has formed an alliance with Horizontes Cielo Azul Movilidad, the country's largest EV distributor. The company plans to introduce several models including the EL8 (known as ES8 in China), EL6 (ES6), ET5 Touring (ET5T), Onvo L60, and Firefly — marking the brand's first entry into the Americas.

In Uzbekistan, NIO has established a partnership with Abu Sahiy Motors, a major local conglomerate. The company will debut the EL8, EL6, ET5, ET5 Touring, and Onvo L60 models, representing NIO's first expansion into Central Asia.

Continued European Expansion

As previously reported, NIO confirmed on June 17 that it will further penetrate European markets between 2025-2026 through a national distributor model in Portugal, Greece, Cyprus, Bulgaria, and Denmark. The company will offer five models across two brands in these markets, including the EL6, EL8, ET5, ET5 Touring, and Firefly.

Q1 2025 Financial Performance

NIO also released its Q1 2025 financial results on June 3 (for the period ending March 31, 2025), revealing:

Quarterly revenue of ¥12.03 billion ($1.69 billion), up 21.5% year-over-year from ¥9.91 billion ($1.39 billion), though falling short of market expectations of ¥12.35 billion ($1.73 billion)
Vehicle sales revenue of ¥9.94 billion ($1.39 billion), representing an 18.6% year-over-year increase
Operating loss of ¥6.42 billion ($899 million), increasing 19.0% year-over-year
Net loss of ¥6.75 billion ($945 million), widening 30.2% year-over-year
Vehicle margin of 10.2% and gross margin of 7.6%
Q1 R&D expenses of ¥3.18 billion ($446 million), up 11.1% year-over-year

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