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Chinese Automaker Nio Posts US Job Opening; Deutsche Bank Analyst Says Expansion Could Be Years Away

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Chinese Automaker Nio Posts US Job Opening; Deutsche Bank Analyst Says Expansion Could Be Years Away

Chinese electric vehicle startup Nio Inc – ADR (NYSE: NIO), which has disclosed European expansion plans, could be eyeing the U.S. next. 

Nio Laying Groundwork For US Entry? Nio is soliciting candidates to fill a mid-to-senior-level position that will be vested with the responsibility of leading a team to expand into the U.S. market, according to a LinkedIn job posting by the company.

See also: How to Buy Nio Stock

The job responsibilities listed include working with American companies and teams to develop American business strategies and formulation of an action plan to enter the U.S. market and pull through the cluster resources in the headquarters.

In late August, Nio's CEO William Li sounded out plans to enter countries that are electric vehicle-friendly, beginning in Europe.

Related Link: Largest Asset Manager, Biggest US Pension Fund Bulk Up On Nio Holdings: What You Need to Know

Nio Analyst Says US Could Be Several Years Away: Commenting on the job posting, Deutsche Bank Securities analyst Edison Yu said Nio's entry into the U.S. market could be several years away, if it decides to move forward at all.  

It could be a tough endeavor given the geopolitical backdrop, the analyst said.

Yet the Biden administration could be less antagonistic, he said. 

Yu said he will not include U.S. sales in his 2025 forecast for Nio.

With Nio already having committed to launch European sales later this year, the first stop could be Norway, the analyst said.

The expectations gains more credence due to the numerous job postings on LinkedIn for open positions based in Oslo and the company teasing a picture of the Karl Johans gate on the new ET7 sedan center screen navigation map shown at the launch event, he said. 

NIO Price Action: Nio shares were down 2.66% at $61.17 at last check Wednesday. 

Related Link: Tesla Analyst Sees Conciliatory Approach To Chinese Regulators, EV 'Golden Age' Ahead

Photo courtesy of Nio. 

Latest Ratings for NIO

DateFirmActionFromTo
Mar 2021MizuhoInitiates Coverage OnBuy
Mar 2021JefferiesMaintainsHold
Jan 2021Nomura InstinetInitiates Coverage OnBuy

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