SAN JOSE, Costa Rica, March 31, 2026, 10:06 (CST)
NIO Inc just launched its first NIO House in Costa Rica, planting a retail flag in Latin America and stepping into the Americas for the first time. According to the company’s post on Monday, this new spot also brings NIO, ONVO, and Firefly together under a single roof abroad—a first for the Chinese EV maker. LinkedIn
NIO is turning more to international markets right after posting its first quarterly net profit, with a new target to break even for the full year in 2026. Pressures at home are mounting: China’s slashed subsidies and weaker demand have weighed on sector-wide sales growth. Reuters
The Costa Rica showroom—set up in San Rafael de Escazu, just outside San Jose—came together through a partnership with local distributor Horizontes Cielo Azul. On display: the ET5 Touring, EL6, EL8, ONVO L60, and the Firefly compact EV. Shoppers waiting for the ONVO L90 will get their first crack at pre-orders on April 16, when Expomovil auto show kicks off in Costa Rica. LinkedIn
NIO singled out Costa Rica back in August, announcing it would break into the country via local distributors. Singapore, Uzbekistan, and Costa Rica were all on its initial expansion list, but Costa Rica was supposed to be the company’s debut move into the Americas. NIO
NIO posted a 71.7% surge in fourth-quarter deliveries, sending 124,807 vehicles to customers, according to results out March 10. Revenue hit 34.65 billion yuan ($4.95 billion) for the quarter, and adjusted operating profit climbed to 1.25 billion yuan. Founder and CEO William Bin Li projected first-quarter deliveries between 80,000 and 83,000 vehicles, describing the pace as an “accelerating growth trajectory.” CFO Stanley Yu Qu called the adjusted operating profit “a major milestone.” NIO Inc.
NIO says it’s aiming to move thousands of cars abroad this year, tying into a larger expansion drive slated to run two to three years. Shares picked up 46 cents to $5.97 in U.S. trading Tuesday. Reuters
Competition abroad keeps heating up. Earlier this month, Xpeng laid out plans to double its overseas sales by 2026 and announced new models for Mexico. On Monday, BYD told analysts it’s “highly confident” it will hit 1.5 million overseas sales this year. Reuters
The rush signals plenty about China’s market dynamics. On March 20, Reuters reported that the government’s move to scale back subsidies, aiming to curb aggressive price cuts, dented demand. According to data Reuters cited, new registrations for EVs and plug-in hybrids in China dropped 32% in February. Xpeng’s sales growth this year could hinge, at least in part, on “incremental growth from overseas markets,” Third Bridge analyst Rosalie Chen told Reuters. Reuters
The outlook is anything but simple. President Qin Lihong flagged tougher conditions in Europe as EV perks dry up and power bills climb, while William Li pointed to a memory-chip crunch—he put the potential hit at up to 10,000 yuan per vehicle, warning that in the worst scenario it could “lead to production suspension.” Despite all that, NIO isn’t looking to bump up sticker prices to make up the difference. Reuters
