Benzinga | Jan 16, 2022 08:01AM EST

Nio Making Big Moves In US, Report Say Chinese EV Maker Setting Up Shop In California

Nio, Inc. (NYSE: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."

Related Link: Nio Obtains UN Cybersecurity Certification, Says It's 'Integral' To Global Expansion

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. (NASDAQ: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).

Related Link: Nio Vs. XPeng Vs. Li Auto: How 2022 Is Shaping Up For Chinese EV Stocks

Photo: Courtesy of nio.com