Image Source: Visual China

BEIJING, June 1 (TMTPOST) — Chinese electric vehicle NIO announced on Tuesday that it made organizational adjustments to its business operation in Europe and that the company’s co-founder and president Qin Lihong will oversee the business operation in the European market, Sinta Tech reported, citing sources familiar with the matter.

Chen Chen, director of NIO’s European operation, as well as the general managers of NIO’s branches in different European countries, will report directly to Qin.

NIO said that the original Level-1 Global Business Development department is changed to European Business Development department. Chen will continue to serve as its director and report to Qin. Under the European Business Development department, two sub-departments were set up—European User Operation Center and European User Development Center. Chen will also oversee the two sub-department centers. The general managers of NIO’s offices in different European countries will also directly report to Qin and Chen.

Before the organizational adjustment, Chen reported to NIO’s chief financial officer Feng Wei. Internal sources said that NIO thinks highly of Feng’s team for its early business exploration in the European market, which is highlighted in the announcement.

NIO has responded to Sina Tech’s request for comment and confirmed the authenticity of the news report.

After entering Norway, NIO will be starting business operation in Germany, the Netherlands, Sweden and Denmark later this year, according to NIO’s announcement.

NIO is a Chinese electric vehicle maker headquartered in Shanghai. The company is known for its development of battery-swapping stations for its vehicles as an alternative to conventual charging stations.

The company’s statistics show that it delivered 7,024 vehicles in May, registering 38.4% growth from April and year-on-year growth of 4.7%. NIO’s production was heavily impacted by the Covid-19 resurgence in Shanghai as the city locked down its businesses and residential areas, quarantining people at their homes. As of late May 2022, the company delivered a total number of 204,900 vehicles.

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