Chinese electric vehicle (EV) manufacturer NIO announced its expansion into four new European markets, including Cyprus, as part of a broader rollout scheduled for 2025 and 2026. The company will enter Portugal and Greece in 2025, followed by Cyprus and Bulgaria in early 2026.

In Cyprus, NIO is partnering with the Motodynamics Group and Cypriot company P.M. Tseriotis Ltd (Unicars) to handle distribution, sales, and after-sales services for its high-end electric vehicles. The collaboration will operate through a new joint venture, leveraging both firms’ extensive automotive and customer service experience in the region.

Founded in 2014, NIO is known globally for its premium smart EVs, cutting-edge battery swapping technology, and autonomous driving features. Its expansion to Cyprus marks a significant milestone in the country's electric mobility landscape, offering Cypriot consumers a new range of technologically advanced vehicles with intelligent digital capabilities.

The initial product lineup for Cyprus will include four models under the NIO brand:

• NIO EL6: a smart SUV built for versatility

• NIO EL8: a luxurious six-seater SUV

• NIO ET5: a sleek mid-sized electric sedan

• NIO ET5 Touring: an electric tourer with a lifestyle focus

Alongside the main brand, NIO will introduce its new sub-brand Firefly, designed specifically for urban environments. Firefly will cater to users seeking compact, intelligent EVs with full digital integration and advanced AI features.

All models will be equipped with NIO’s proprietary autonomous driving system, its in-car AI assistant NOMI, and a connected suite of digital services aimed at creating a seamless and futuristic driving experience.

Motodynamics, a Greek group active in mobility solutions since 1969, will spearhead NIO’s entry into the Greek, Cypriot, and Bulgarian markets. In Cyprus, the group will collaborate closely with P.M. Tseriotis Ltd, a long-established distributor with strong ties to global brands and local expertise.

“This alliance is built on shared values and a common vision for sustainable, unrestricted mobility,” said Paris Kyriakopoulos, Chairman and CEO of Motodynamics in a related company announcement. “The inclusion of NIO in our portfolio marks the beginning of a bold new chapter for electromobility in the region.”

Alexandros Diogenous, CEO of P.M. Tseriotis Ltd, emphasized the significance of the partnership: “Our company has deep roots in the region and a legacy of trusted collaborations. Together with NIO and Motodynamics, we are committed to delivering an innovative customer-centric approach to the future of mobility.”

NIO’s Head of European Business, Thijs Meijling, highlighted the strategic importance of the European market: “Europe plays a key role in our global roadmap. While our direct-to-consumer model remains essential, we are accelerating our growth through partnerships with trusted local networks. Collaborating with established partners allows us to tailor the NIO experience to local needs and expand sustainably.”

With operations already in countries such as Germany and the Netherlands, NIO is now targeting markets in Southern and Eastern Europe. In Portugal, the company will work with JAP Group, one of the oldest and most experienced automotive groups in the region.