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Nio and Lynk push into European market

Chinese carmakers are making a new attempt at the European market. But unlike in previous years, new young brands with innovative concepts venture into the EU market. On Thursday, the electric start-up Nio announced its entry into Norway – the first market outside China. Norway is the most open to EVs, Nio founder William Li justified this choice. Li states, that Norway’s Norges Bank backed Nio’s IPO in 2018 and, according to financial portal Fintel, recently bought a larger block of shares in the start-up – worth just over $666 million today.

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