Photo: Courtesy of nio.com

Nio, Inc. (NIO) kickstarted its international expansion in 2021 by setting up shop in Norway. Now, reports say the company may be expanding its presence in the U.S.

What Happened

Nio has leased a building in north San Jose that will likely serve as its headquarters and innovation center, San Jose Mercury News reported, citing real estate firm Colliers. The office building located at 3151 Zanker Road is situated close to Nio's current U.S. headquarters, the report added. The new facility is over 200,000 square feet in dimension, more than double the size of its current location.

Nio has also recently posted on its LinkedIn job openings for its U.S. operations, including for the position of "Head of User Infrastructure Construction & Readiness." The job description stated that the "Business & Corporate Development Team at NIO USA is responsible for the strategy, planning, and execution of NIO's Go-To-Market for the Americas."

Why it's Important

Following its Norwegian foray, Nio confirmed at its Nio Day 2021 that it would expand into four more European countries – Germany, the Netherlands, Sweden, and Denmark – in 2022.

An entry into the U.S. would mean Nio will be taking on its rival and industry leader Tesla, Inc. (TSLA) in the latter's home turf. Nio makes premium EV brands and the average selling price of its vehicles in the January-November period in 2021 was reportedly at 413,800 yuan ($65,140).