Chen Chen, a veteran of Nio’s global business, will head the new Tier 1 division and will personally oversee the Middle East business.
Nio (NYSE: NIO) is reportedly overhauling its global operations, creating eight new divisions and appointing an international veteran to head its Middle East operations.
The Chinese electric vehicle (EV) maker recently made the latest organizational changes and personnel changes for its international operations, establishing a new first-tier department called “Global Business Development” (GB) that will be responsible for business development across multiple brands and regions, local media 21jingji reported today.
According to reports, Chen Chen, a veteran of the company’s global business, will head the new division and report to NIO co-founder and president Qin Lihong.
The latest restructuring gives NIO eight new second-tier divisions covering six regions.
Middle East and North Africa Business Development (MBD).
Asia Business Development (ABD).
Latin America and Oceania Business Development (LOD).
Western European Business Development (WED).
Southern European Business Development (SED).
Business Development (CND) in Central, Eastern and Northern Europe.
Global Strategy and Planning (GSP).
Global Operations Support Center (GOC).
According to reports, the heads of these second-tier divisions will remain in their current positions at European Business Development (EB) or Nio Power Europe (PU) until the new organizational structures for the latter two divisions are finalized.
According to 21jingji, Chen, who will be in charge of the Middle East business, is a veteran of NIO and previously ran the company’s sales operations.
According to the report, NIO launched an internal project called “Project Marco Polo” in 2020 to expand into Europe, with Chen as its head.
The Middle East is one of the priority destinations for many emerging Chinese automakers as they enter overseas markets, with manufacturers such as Aiwa Auto, Neta, XPEV Motors (NYSE: XPEV) and Zika (NYSE: ZK) planning to forge partnerships with local dealers from 2020 onwards, the report said.
NIO’s ties with the Middle East run deeper, with Abu Dhabi investing a total of $3.3 billion in the company in two investments, in June and December last year, the report said, adding that the partnership could help NIO’s presence in the region.
NIO restructured its global business in June 2022, renaming its first-tier division, “Global Business Development,” to “European Business Development,” but the division continued to be led by Chen.
According to 21jingji, the company has also set up two new second-tier departments under the division, the European User Operations Department and the European User Development Department.
At the time, Chinese EV makers were thinking about concentrating their resources on expanding into the European market.
With this latest reorganization, NIO is refocusing on the broader global market and will begin exploring other markets, according to the report.
Nio founder, chairman and CEO William Li said during an earnings call on June 6 that the company plans to begin offering its products and services in the UAE later this year and that related preparations are underway.
Following Abu Dhabi sovereign wealth fund CYVN Holdings’ investment in NIO, the two companies could agree on expanding the company’s global operations into the Middle East this year, 21jingji reported, citing a person close to NIO.
The person said NIO will opt for a lighter, more unique approach in the Middle East, but did not provide details.
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